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BP Vietnam Gas Asset For Sale

5 October 2010

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%.