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Rosneft withdraws from gas assets in Vietnam

The company did not disclose the purchaser of assets

MOSCOW, November 12. /TASS/. Rosneft sold assets on gas production and transportation in Vietnam in the third quarter of 2021. The issue is about 100% of shares in the Rosneft Vietnam B.V. subsidiary, Russia’s oil major said in its 9M financial report on Friday.

The company did not disclose the purchaser of assets.

Moreover, Rosneft completed the sale of its 50% investment in the share capital of Tomskneft, previously accounted for as an investment in joint operations, according to the report.

Rosneft was engaged in the project on production of gas and condensate and the exploration project at Block 06.1 in Vietnam. Rosneft Vietnam B.V. (the project operator) owned 35% of shares in the project, whereas India’s ONGC held 45% of shares, and Vietnam’s PVN - 20%. The project is implemented on terms of Production Sharing Agreement (PSA). Three gas condensate fields - Lan Tai, Lan Do and PLD (Wild Orchid) - are located on the block. The fields are 370 km offshore in Nam Con Son basin.