Repsol Exploracion SA has agreed to acquire Pan Pacific Petroleum (Vietnam) Pty Ltd from Pan Pacific Petroleum NL (PPP) for $5m. 

Pan Pacific Petroleum (Vietnam) owns 5% stake in Block 07/03 in the Nam Con Son Basin in the South China Sea.

The acquisition will allow Repsol to expand its operations in the South China Sea.

"The acquisition will allow Repsol to expand its operations in the South China Sea."

Thalassa Holdings Ltd plans to dispose certain interest in WGP Group Ltd for an undisclosed value.

WGP offers marine geophysical technologies and services for the global upstream oil and gas industry.

The company delivers 4D life-of-field and specialised seismic services for the exploration of new oil and gas resources.

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