Oil
company ConocoPhillips said it would sell its Vietnam operations to Perenco for
$1.29 billion in the latest divestment of assets that has yielded the company
more than $20 billion
Under the agreements signed with a unit of
privately owned Perenco, Conoco would sell its three wholly owned subsidiaries
that own stakes in two offshore blocks and 16.3 per cent interest in the Nam
Con Son Pipeline.
The deal is expected to close in the first
half of 2012.
Conoco will split into two companies later this
year, with one arm focused oil and gas production and the other on refining and
market operations.
Conoco had targeted asset sales of $15 billion
to $20 billion by the end of 2012.
With the Vietnam operations sale and including
the divestment of its stake in Russia's LUKOIL for $9.5 billion, Conoco has now
exceeded it target, with proceeds from the sales now at $20.2 billion.
Shares of Conoco slipped 1 per cent in
premarket trading to $72.73.
Reuters
Business & Investment Opportunities
YourVietnamExpert is a division of Saigon Business Corporation Pte Ltd, Incorporated in Singapore since 1994. As Your Business Companion, we propose a range of services in Consulting, Investment and Management, focusing three main economic sectors: International PR; Healthcare & Wellness;and Tourism & Hospitality. We also propose Higher Education, as a bridge between educational structures and industries, by supporting international programs. Sign up with twitter to get news updates with @SaigonBusinessC. Thanks.
No comments:
Post a Comment