Gulf Oil and Gas accountACCOUNT

TNK-BP Receives Investment License for Block 06.1

Source: www.gulfoilandgas.com 10/19/2011, Location: Asia

TNK-BP said that the Vietnamese Ministry of Investment and Trade has granted TNK Vietnam, the Vietnam-based subsidiary of TNK-BP Group, the investment license to operate offshore gas Block 06.1, part of the Nam Con Son Integrated Gas to Power Project.

TNK-BP has acquired from BP a 35% stake in the offshore gas condensate production Block 06.1, which contains the Lan Tay and Lan Do gas condensate fields. The acquisition brings TNK-BP production of 17 thousand barrels oil equivalent per day on a net entitlement basis in 2011.

The Integrated Gas to Power Project also includes the Nam Con Son Pipeline, which is the world’s longest two-phase pipeline, and the Phu My 3 Electric Power Plant. As part of the deal TNK-BP will also acquire 32.7% and 33.3% stakes in these projects, respectively, pending lender and government approval.

Maxim Barskiy, Deputy Chairman of the Management Board, TNK-BP, commented: "As Vietnam’s largest in-country gas producer, Block 06.1 plays an important role in meeting the country’s growing energy needs. As operator, TNK-BP will ensure best-in-class efficiency of operations, while at the same time keeping HSE as a top priority. Our company sees Vietnam as a very prospective market and will continue to review opportunities for deepening our presence in the country.”

Investment News in Vietnam >>

Russia >>  4/19/2019 - The Gazprom Neft Board of Directors has reviewed information on the company’s budgetary and investment programme performance in 2018. ...
United Kingdom >>  4/12/2019 - Independent global completions service company Tendeka has more than doubled its work in the UK offshore sector over the past 12 months. The growth in...

Canada >>  4/10/2019 - Africa Oil Corp. had acquired 4,752,850 common shares of Eco (Atlantic) Oil and Gas Ltd. ("Eco") for US$1.05 per common share for a total consideratio...
Saudi Arabia >>  4/9/2019 - Saudi Aramco is set to raise $12 billion with its first international bond issue after receiving more than $100 billion in orders, a record breaking v...

United Kingdom >>  4/7/2019 - The offshore market is set for a bumper year with 83 greenfield FIDs expected, totalling $115 billion in infrastructure, equipment & associated drilli...
Nigeria >>  4/6/2019 - Shell Petroleum Development Company of Nigeria Ltd (SPDC) plans to invest about $15 billion in oil and gas projects in Nigeria over the next five year...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Vietnam Oil & Gas 1 >>  2 | 3 |

More News

Related Links

AZ BD BN CN GE HK ID IN IR JP KG KH KR KZ MM MN MY PG PH PK RU SG TH TJ TM TW UA UZ VN
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.