Big Energy Joint Stock Company, a wholly-owned subsidiary of Big Capital Joint Stock Company, has signed share purchase agreements with Premier Oil Group Limited and Premier Oil Overseas BV, wholly owned subsidiary companies of Harbour Energy PLC., to acquire operator right and all of the shares of Premier Oil Vietnam Offshore B.V.(POVO) and Premier Oil (Vietnam) Limited (POVL), in which POVO – a company incorporated in Netherlands which holds a 28,125% participant interest and POVL – a company organised and existing under the laws of the British Virgin Islands which holds a 25% participant interest in the oil and gas exploitation contract for Block 12W, Operator, Nam Con Son Basin, Offshore Vietnam.
The acquisition is expected to be completed at the end of 2023 following receipt of the necessary approvals from Vietnamese authorities.
| Big Energy is a newly established company, dedicated to the oil and gas business in Vietnam and worldwide. Big Energy is a subsidiary of Big Capital JSC, the majority of which is owned by Mr. Vu Quang Hoi, a prominent businessman in Vietnam, who is the founder of Bitexco Group of Companies – a leading multidisciplinary private company in Vietnam (“Bitexco Group”). With respect to the E&P business in Vietnam, Bitexco Group has been active on offshore acreage for over 10 years. |
Source: Vietnam Investment Review
