Vietnam supports India's bid for BP gas assets: Deora
Vietnam is supporting India for its bid on Thursday for BP Plc's energy assets in Vietnam, which is hit by crisis.
The Prime Minister of Vietnam, Nguyen Tan Dung had a meeting with India's Oil Minister Murli Deora wherein it was decided that the British firm's stake will be split between the two countries.
ONGC Videsh Ltd, BP, PetroVietnam (Vietnam's national oil firm) all have already got 45 per cent, 35 per cent, and 20 per cent stakes in the offshore gas fields. Both OVL and PetroVietnam want to get hold of BP's stake in the fields which has a gas production of about 14 million standard cubic meters each day at present.
India, meanwhile, wants to maintain the good relationship with Vietnam whom India has been supporting since ages. India is planning to take 1 per cent to 35 per cent stake and extend its relationship with Vietnam further.
OVL is an earner of $ 35.40 million as net revenue at present. It has till now invested $ 217 million in the gas fields and has further plans of investing up to $ 377.46 million with the government's approval which it has already got.