Sunday, August 29, 2021 | 11:41 (GMT+7)
A subsidiary of Bitexco Group has signed an agreement to buy back all shares of Talisman Vietnam, which holds 60% of the oil and gas contract of Block 15-2/01.
Bitexco Energy - a wholly owned subsidiary of Bitexco Group - has just announced that it has signed an agreement with Repsol Exploration SA to acquire all shares of Repsol in a company incorporated in Canada, Talisman Vietnam (15 -2/01).
Talisman (Vietnam 15-2/01) is the company holding 60% stake in the Oil and Gas Contract Block 15-2/01, offshore Vietnam's continental shelf and holding 60% operating rights in the Thang Long - JOC.
Bitexco said that it is expected to close the deal before the end of this year when it receives the necessary approvals from the Vietnamese competent authorities.
Block 15-2/01 belongs to the Cuu Long basin area, with an area of nearly 280,000 hectares, about 20 km from Vung Tau.
In 2005, Talisman Vietnam (January 15-2) and Petroleum Exploration and Production Company (PVEP) signed an agreement to exploit.
Accordingly, Talisman participates in 60% of contractual rights and obligations, PVEP participates in 40%. The parties establishing joint operating joint venture are Thang Long - JOC. Two years later, the Hai Su Trang and Hai Su Den fields jointly discovered oil from the well.
On its website, Bitexco said that it has been involved in the energy sector since 2002, currently owns 21 electric power projects and 2 oil and gas fields.
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