Harbour Energy plc will exit Vietnam after nearly 24 years with the $84 million (£65.7m) sale of its assets, including its 53.125% interest in the Chim Sao and Dua producing fields.
PORTFOLIO
The sale to Big Energy Joint Stock Company, subject to government approvals, has an effective date of 1 January 2023 with completion targeted by the end of 2023.
“We are pleased to have reached agreement to sell our business in Vietnam to Big Energy – a growing, local oil and gas player – as we continue to actively manage our portfolio,” said chief executive officer Linda Z Cook.
“While Vietnam does not form a core part of our growth strategy going forward, we are proud of the quality of the business we have built, both in terms of the organisation and assets, since our country entry in 2004.
“I would like to thank our Vietnam colleagues for their hard work over the years and wish them all the best for the future.”