Bitexco Energy Ltd., a wholly-owned subsidiary of Bitexco Group, has signed a share purchase agreement with Ophir Jaguar 2 Ltd., a wholly-owned subsidiary of PT Medco Energi Internasional Tbk., to acquire all of the shares of Ophir Vietnam Block 12W B.V.

Bitexco Group to acquire new oil and gas interest

Ophir Vietnam Block 12W B.V is a company incorporated in the Netherlands, holding a 31.875 per cent interest in the oil and gas exploitation contract for Block 12W, Nam Con Son Basin, Offshore Vietnam.

The acquisition is expected to be completed in the first half of 2023 following receipt of the necessary approvals from Vietnamese authorities.

Launching its first project in the energy sector in 2002, Bitexco Group owns 21 electric energy projects and two oil and gas projects.

The group's long-term goal is to develop the energy sector based on clean, renewable energy sources such as wind and solar power, and build a development roadmap for the sustainable and green industry.