Russia’s third largest oil and gas company TNK-BP announced onOctober 18 that the company had reached an agreement to buy assets worthabout 1.8 billion USD from British oil company BP in Vietnam andVenezuela.
The deal is part of a series of sales BP is making to help pay for oilspill damages in the Gulf of Mexico. It will be financed entirely byTNK-BP, which is owned 50-50 by BP and a group of Russian tycoons.
Under the deal, in Venezuela, TNK-BP will buy BP’s 16.7 percent stakeof PetroMonagas SA and 26.7 percent stake of Boqueron SA.
In Vietnam, the company will acquire BP’s 35 percent of stake in aupstream offshore gas project including Lan Tay and Lan Do gas fields, a32.7 percent stake in Nam Con Son Pipeline and Terminal, and a 33.3percent stake in Phu My 3 power plant.
“Theacquisitions in Venezuela and Vietnam mark a milestone in TNK-BP'sstrategic expansion in the global energy market,” TNK-BP CEO MikhailFridman said. He also expressed his company’s interest in buying BPassets in Algeria./.
The deal is part of a series of sales BP is making to help pay for oilspill damages in the Gulf of Mexico. It will be financed entirely byTNK-BP, which is owned 50-50 by BP and a group of Russian tycoons.
Under the deal, in Venezuela, TNK-BP will buy BP’s 16.7 percent stakeof PetroMonagas SA and 26.7 percent stake of Boqueron SA.
In Vietnam, the company will acquire BP’s 35 percent of stake in aupstream offshore gas project including Lan Tay and Lan Do gas fields, a32.7 percent stake in Nam Con Son Pipeline and Terminal, and a 33.3percent stake in Phu My 3 power plant.
“Theacquisitions in Venezuela and Vietnam mark a milestone in TNK-BP'sstrategic expansion in the global energy market,” TNK-BP CEO MikhailFridman said. He also expressed his company’s interest in buying BPassets in Algeria./.
