Vietnam’s Bitexco to buy stake in oil and gas Block 12W
Bitexco Group’s Bitexco Energy Ltd. has struck a deal to acquire the entire stake of Ophir Vietnam in the Block 12W oil and gas exploitation contract, offshore southern Vietnam.
Ophir Vietnam Block 12W B.V is a company incorporated in the Netherlands that holds a 31.875% interest in the contract to exploit Block 12W in Nam Con Son Basin.
The stake purchase agreement was signed Monday in Vietnam with Ophir Jaguar 2 Ltd., a wholly-owned subsidiary of Indonesian oil and gas company PT Medco Energi Internasional Tbk.
Representatives of Bitexco Energy and Ophir Jaguar 2 at the signing ceremony on December 19, 2022. Photo courtesy of Bitexco.
The acquisition is set for completion in the first half of 2023 following necessary regulatory approvals from Vietnamese authorities.
Ho Chi Minh City-headquartered conglomerate Bitexco Group’s ecosystem includes real estate, infrastructure development, financial investment, hospitality, renewable energy, oil and gas, telecommunications, and mineral water production.
- Related News
- Read More
Shareholders vote against contractor Ricons's HCMC bourse listing plan
Nearly 70% of shareholders attending the recent AGM of Vietnamese contractor Ricons voted against the company’s plan to list its shares on the Ho Chi Minh Stock Exchange (HoSE), despite the proposal having been delayed over the past two years.
Companies - Tue, June 24, 2025 | 10:55 am GMT+7
Vietnam’s largest container fleet operator Hai An expects growth after 'handshake' with Viconship
The combination of two Vietnamese giants, Hai An and Viconship, in the field of transportation and seaports in Hai Phong city is expected to open up many opportunities for both sides.
Companies - Tue, June 24, 2025 | 10:16 am GMT+7
Indonesia concludes FTA talks with Eurasian Economic Union
Indonesia and the Eurasian Economic Union (EAEU) have officially concluded negotiations on a free trade agreement (FTA), aiming to sign the deal later this year, the Indonesian Coordinating Ministry for Economic Affairs announced on Friday.
Southeast Asia - Mon, June 23, 2025 | 10:06 pm GMT+7
What drives Vietnam's benchmark VN-Index to 3-year high?
VN-Index, which represents the Ho Chi Minh Stock Exchange, continued to reach a new high on Monday, driven by Vingroup and stocks of the oil & gas and industrial real estate sectors.
Finance - Mon, June 23, 2025 | 6:10 pm GMT+7
A new chapter for Vietnam’s major real estate developer Hoang Huy
The merger of CRV Real Estate Group JSC (CRV) into Hoang Huy Investment Services JSC (HoSE: HHS) marks the completion of Hoang Huy Group’s ecosystem restructuring process, paving the way for a new phase of the group's development.
Real Estate - Mon, June 23, 2025 | 5:03 pm GMT+7
New zoning schemes to create infrastructure breakthroughs for eastern HCMC
Nine newly-approved 1:2000-scale functional zone planning schemes have set new development directions in terms of transportation, technology and finance for Ho Chi Minh City's Thu Duc city.
Economy - Mon, June 23, 2025 | 4:48 pm GMT+7
No matter how good AI gets, it still needs humans to check: exec
To make AI work effectively, companies must establish a clear process and train the system using their data, and more importantly, no matter how advanced AI becomes, it still requires a human to verify its output, said Le Huu Nghia, general director of Le Thanh Construction Ltd.
Companies - Mon, June 23, 2025 | 3:44 pm GMT+7
New production sharing contract signed for Block 15-1 oil fields off southern Vietnam
State-owned Petrovietnam and its joint venture partners on Friday signed a new production sharing contract (PSC) for Block 15-1, located in the continental shelf off southern Vietnam.
Economy - Mon, June 23, 2025 | 12:24 pm GMT+7
Vietnam's rubber producers face EU Deforestation Regulation challenges
Vietnamese rubber producers - a crucial link in the global rubber supply chain - are facing challenges as over 60% of raw rubber originates from smallholder farmers who fail to meet the EU Deforestation Regulation (EUDR).
Economy - Mon, June 23, 2025 | 11:48 am GMT+7
Outlook of Vietnamese chemical stocks amid Middle East tensions
Geopolitical tensions in the Middle East have turned chemical stocks into a standout sector in the stock market, but not all companies in the industry are beneficiaries.
Finance - Mon, June 23, 2025 | 9:04 am GMT+7
Vinpearl starts construction of $1.68 bln urban-tourism complex in central Vietnam
Vinpearl JSC, a subsidiary of Vietnam's leading conglomerate Vingroup, started construction of its 512.2-hectare Lang Van Resort Urban and Tourism Complex project in Danang city on Sunday.
Real Estate - Sun, June 22, 2025 | 7:34 pm GMT+7
Investors flock to newly-formed free trade zone in central Vietnam
Danang city authorities on Sunday handed over MoUs to eight strategic investors in the Danang Free Trade Zone (FTZ), right at a ceremony to announce the zone's establishment.
Economy - Sun, June 22, 2025 | 7:07 pm GMT+7
Pearl Polyurethane Systems boosts capacity at 1st Southeast Asia plant in Vietnam
Pearl Polyurethane Systems, a Dubai-headquartered provider of polyurethane (PU) insulation solutions, has announced a plan to boost capacity at its first Southeast Asia plant in Dong Nai province, an industrial hub in southern Vietnam.
Industries - Sun, June 22, 2025 | 10:08 am GMT+7
Eyes on Vietnam: The quiet giant of Asian real estate is waking up
Vietnam is emerging as one of Asia’s most compelling property investment stories, write Knight Frank analysts.
Real Estate - Sun, June 22, 2025 | 8:00 am GMT+7
Vietnam’s first tech unicorn VNG targets record revenue, lower net loss in 2025
VNG Corporation (UpCoM: VNZ), Vietnam’s first tech unicorn, is targeting a record revenue of VND10.77 trillion ($412.3 million) this year, with a compound annual growth rate of 19% between 2023 and 2025.
Companies - Sat, June 21, 2025 | 10:23 pm GMT+7
Vietsovpetro plans $484 mln investment to further exploit White Tiger oil field
Vietnam-Russia joint venture Vietsovpetro plans to invest VND12.5 trillion ($483.6 million) to further develop the Bach Ho (White Tiger) oil field, the largest of its kind in Vietnam.
Energy - Sat, June 21, 2025 | 2:46 pm GMT+7
