Essar Exploration & Production Ltd. (LSE:ESSR) has agreed to sell 50% of its offshore Vietnam block 114 to ENI International B.V. (MI:ENI, NYSE:E).
Offshore staff
PORT LOUIS, Mauritius –Essar Exploration & Production Ltd. (LSE:ESSR) has agreed to sell 50% of its offshore Vietnam block 114 to ENI International B.V. (MI:ENI, NYSE:E).
Essar acquired its 100% stake in 2007 and in 2010 a production sharing contract became effective.
Eni will become operator, subject to Vietnamese approval of the sale.
