Oil & Natural Gas Corp. has expressed its interest to Vietnam Oil and Gas Group, or PetroVietnam, to buy BP PLC's stake in a gas block in Vietnam, the chairman of India's state-run oil and gas explorer said Thursday.
"Yesterday we have indicated our willingness to PetroVietnam to buy BP's stake. Let us see now," R.S. Sharma told Dow Jones Newswires.
BP holds a 35% stake in the block and is also the operator. ONGC owns 45%, while PetroVietnam has the remaining 20%.
BP announced Tuesday that it has agreed to sell assets in the U.S., Canada and Egypt to U.S. oil company Apache Corp. for $7 billion. BP also said it plans to sell gas fields and a pipeline in Vietnam, as well as exploration licenses in Pakistan to help pay for damages related to the Gulf of Mexico oil spill.
Source : online.wsj.com
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