Offshore staff

ABU DHABI --Aabar Petroleum Investments Co. subsidiary PearlOil (Ophiolite) Ltd. has agreed to acquire a 15% working interest in the production sharing contract covering blocks 07 and 08/97 offshore southern Vietnam from Vietnam American Exploration Co. Llc, subject to government approvals.

Block 07 and 08/97 covers an area of 4,915 sq km (1,898 sq mi) at the southern margin of the Nam Con Son basin. It lies on a trend of oil and gas discoveries including BP's producing gas fields at Lan Tay and Lan Do. The block is adjacent to the Aabar-operated block 06/94 acquired earlier this year.

07/05/2007