LogIn LogOut

KrisEnergy's Sale of Vietnam Offshore Block Delayed Again

December 17, 2020

File Image/Credit: KrisEnergy
File Image/Credit: KrisEnergy

Southeast Asia-focused oil company KrisEnergy has yet again extended the long-stop date for the completion of the sale of its interest in the Vietnam Block 115/09.

KrisEnergy first announced it had agreed to sell the offshore block to an unnamed "major international oil and gas company" back in February, so it can focus on its Apsara development in Cambodia.

The long-stop date for the completion of the transaction was initially set for June 30. This deadline was then moved to September 30, then to December 31, 2020, only to be delayed for a third time, as announced by KrisEnergy this week.

Namely, KrisEnergy said Wednesday that "while parties are actively working towards the fulfillment of conditions precedent under the farm-out agreement," the companies have mutually agreed to extend the long-stop date to March 31, March 2021, "or such later date as may be agreed in writing between parties."

KrisEnergy holds a 100% stake in Block 115/09 covering 7,382 sq km in the southern Song Hong Basin, offshore central Vietnam.

Credit: KrisEnergy

Categories: Energy Activity Asia


Current News

Woodside Sees Global LNG Market Tightening

Woodside Sees Global LNG Market Tightening

JDR to Deliver Subsea Umbilical for Malaysian Offshore Project

JDR to Deliver Subsea Umbilical for Malaysian Offshore Project

Mubadala Takes Stake in Egyptian Offshore Block

Mubadala Takes Stake in Egyptian Offshore Block

FAR, Woodside Sign Senegal Assets Sale Deal

FAR, Woodside Sign Senegal Assets Sale Deal

Halliburton 4Q Result Beats Estimates, But Profit Drops 43.9%

Halliburton 4Q Result Beats Estimates, But Profit Drops 43.9%

Petronas Extends ROV Services Contract with Tanjung Offshore

Petronas Extends ROV Services Contract with Tanjung Offshore

Boskalis Charters Southern Ocean Offshore Vessel

Boskalis Charters Southern Ocean Offshore Vessel

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com