Bitexco Group to acquire interest in Oil & Gas Block 12W

Representatives of the two companies at the signing ceremony.

HÀ NỘI – Bitexco Energy Ltd., a wholly-owned subsidiary of Bitexco Group, has signed a share purchase agreement with Ophir Jaguar 2 Ltd., a wholly-owned subsidiary of PT Medco Energi Internasional Tbk., to acquire all of the shares of Ophir Vietnam Block 12W B.V.

Ophir Vietnam Block 12W B.V is a company incorporated in Netherlands which holds a 31.875 per cent interest in the oil and gas exploitation contract for Block 12W, Nam Con Son Basin, offshore Việt Nam.

The acquisition is expected to be completed in the first half of 2023 following receipt of the necessary approvals from Vietnamese authorities, the company said.

Source: Vietnam News/ Vietnam Insider