Mitra Energy will acquire a 30 percent working interest in blocks 05-1B and 05-1C offshore the socialist republic of Vietnam for a total cash consideration of $14.3 million.
Partners in the blocks are Idemitsu Oil and Gas Co. Ltd. and JX Nippon Oil & Gas Exploration Corporation, each of which hold a 35 percent working interest.
“The acquisition plays to our deep knowledge of the Vietnam gas market and extensive experience of operating in this highly prolific hydrocarbon basin. We look forward to working with Idemitsu to share our experience and thereby providing greater certainty towards delivering optimal outcomes for the project for the benefit of all stakeholders, including the Government of Vietnam,” Blakeley added.
“After the recent Stag oil field acquisition in Australia, new management again demonstrating their appetite for acquiring current or near term production assets is very encouraging,” said FirstEnergy in a brief research note sent to Rigzone.
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you