In its ongoing strategy to diversify geographically and by product, BP's (NYSE:BP) joint venture with Russian billionaires, TNK-BP, is reportedly close to signing a shale gas exploration agreement with Ukraine.
They should sign a memorandum for that purpose soon. TNK-BP has a refining business in Ukraine at this time.
TNK-BP has already signed on to acquire BP's assets held in Venezuela and Vietnam in order to expand operations beyond Russia.
Showing posts with label BP Vietnam Assets. Show all posts
Showing posts with label BP Vietnam Assets. Show all posts
Thursday, October 28, 2010
Wednesday, October 6, 2010
BP's (NYSE:BP) Algerian Assets Draw Interest of TNK-BP
With a number of non-core assets of BP (NYSE:BP) on the market to raise capital to pay for liabilities for the oil spill, it has garnered a lot of attention from companies around the world, including their own joint venture TNK-BP.
TNK-BP is a joint venture between a group of Russian billionaires and BP, which has shown interest in several of BP's assets, especially in Vietnam and Venezuela. Now they've expanded that interest to Algeria, where BP is the largest foreign investor in the country.
At this time TNK-BP is waiting for BP to be cleared by Algeria to transfer its assets to TNK-BP. At that time they said they'll take a closer look at the Algerian assets.
BP operates Salah Gas and Amenas, two gas fields, and has a stake in Rhourde El Baguel oil field. They also have significant exploration acreage in the country.
TNK-BP has a goal of having at least 50 percent of their production outside of Russia, according to interim CEO Mikhail Fridman.
TNK-BP is a joint venture between a group of Russian billionaires and BP, which has shown interest in several of BP's assets, especially in Vietnam and Venezuela. Now they've expanded that interest to Algeria, where BP is the largest foreign investor in the country.
At this time TNK-BP is waiting for BP to be cleared by Algeria to transfer its assets to TNK-BP. At that time they said they'll take a closer look at the Algerian assets.
BP operates Salah Gas and Amenas, two gas fields, and has a stake in Rhourde El Baguel oil field. They also have significant exploration acreage in the country.
TNK-BP has a goal of having at least 50 percent of their production outside of Russia, according to interim CEO Mikhail Fridman.
Monday, September 13, 2010
BP's (NYSE:BP) Vietnam Assets Getting a Bid
Indian Oil Secretary S. Sundareshan revealed on Saturday that state-run "Oil and Natural Gas Corp" will be making a joint bid with Petrovietnam for the Vietnam assets of BP (NYSE:BP).
The bid should come within a few weeks said Sundareshan, after an evaluation of the assets is completed.
"They (ONGC) are making an evaluation of the value of BP's assets, and once that is finalized they will make an offer in conjunction with Petrovietnam," Sundareshan said.
The Indian government will need to approve of the deal because of production-sharing contracts held by Cairn India for exploration blocks for oil and gas.
According to UBS (NYSE:UBS) analysts, the Vietnam assets are valued at about $966 million, which include the Phu My power generation project, interests in the Lan Tay and Lan Do gas fields, and the Nam Con Son pipeline.
The bid should come within a few weeks said Sundareshan, after an evaluation of the assets is completed.
"They (ONGC) are making an evaluation of the value of BP's assets, and once that is finalized they will make an offer in conjunction with Petrovietnam," Sundareshan said.
The Indian government will need to approve of the deal because of production-sharing contracts held by Cairn India for exploration blocks for oil and gas.
According to UBS (NYSE:UBS) analysts, the Vietnam assets are valued at about $966 million, which include the Phu My power generation project, interests in the Lan Tay and Lan Do gas fields, and the Nam Con Son pipeline.
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