Bitexco subsidiary to buy Spanish company owning two offshore oil fields

The acquisition by Bitexco Energy from Spain’s Repsol Exploración SA is expected to be completed by the end of the year when the necessary regulatory approvals are obtained.

Talisman has been producing oil since 2013 from the Hai Su Trang (White Sea Lion) and Hai Su Den (Black Sea Lion) fields 20 kilometers to the east of Vung Tau Province.

Block 15-2/01 covers nearly 280,000 hectares in the Cuu Long Basin and is operated by the Thang Long Joint Operating Company in which Talisman holds a 60 percent stake and the state-owned PetroVietnam Exploration Production Corporation Limited the rest.

Bitexco says in its website it has been operating in the energy industry since 2002 and owns 21 power projects.