Vietnam’s Bitexco to buy stake in oil and gas Block 12W
Vietnam’s Bitexco to buy stake in oil and gas Block 12W
By
Thuy Tuong
Tue, December 20, 2022 | 4:43 pm GTM+7
Bitexco Group’s Bitexco Energy Ltd. has struck a deal to acquire the entire stake of Ophir Vietnam in the Block 12W oil and gas exploitation contract, offshore southern Vietnam.
Ophir Vietnam Block 12W B.V is a company incorporated in the Netherlands that holds a 31.875% interest in the contract to exploit Block 12W in Nam Con Son Basin.
The stake purchase agreement was signed Monday in Vietnam with Ophir Jaguar 2 Ltd., a wholly-owned subsidiary of Indonesian oil and gas company PT Medco Energi Internasional Tbk.
Representatives of Bitexco Energy and Ophir Jaguar 2 at the signing ceremony on December 19, 2022. Photo courtesy of Bitexco.
The acquisition is set for completion in the first half of 2023 following necessary regulatory approvals from Vietnamese authorities.
Ho Chi Minh City-headquartered conglomerate Bitexco Group’s ecosystem includes real estate, infrastructure development, financial investment, hospitality, renewable energy, oil and gas, telecommunications, and mineral water production.
