BP Vietnam Gas Asset For Sale


Global Petroleum is keen to buy BP's stake in the Nam Con Son gas project, offshore Vietnam.

Kuwait Petroleum's unit Kuwait Foreign Petroleum Exploration Company, Petrovietnam, Russia's TNK-BP and India's state-run Oil and Natural Gas Corp are interested in acquiring the stake.

As part of BP's plans to sell assets worth $30bn to cover costs for containing the oil spill in the Gulf of Mexico, the company is planning to sell its 35% stake in the Nam Con Son gas project, according to Vietnamese newspaper Dau Tu.

ONGC already holds a 45% stake in the project while Petrovietnam holds 20%.