Business
Sale of Vietnam business
Sale of Vietnam business.
About this update from Harbour Energy Plc
[{"type":"text","content":"\n\nHarbour Energy plc\n(\"Harbour\")\nSale of Vietnam business\n10 August 2023\n \nHarbour Energy today announces that it has entered into Sale and Purchase Agreements to sell its business in Vietnam, which includes its 53.125 per cent interest in the Chim Sao and Dua producing fields, to Big Energy Joint Stock Company for a consideration of $84 million. The transaction, which is subject to government approvals, has an effective date of 1 January 2023. Completion is targeted by year end 2023. The divestment results in a country exit from Vietnam for Harbour.\n \nLinda Z Cook, Chief Executive Officer of Harbour Energy, commented:\n\"We are pleased to have reached agreement to sell our business in Vietnam to Big Energy - a growing, local oil and gas player - as we continue to actively manage our portfolio. While Vietnam does not form a core part of our growth strategy going forward, we are proud of the quality of the business we have built, both in terms of the organisation and assets, since our country entry in 2004. I would like to thank our Vietnam colleagues for their hard work over the years and wish them all the best for the future.\" \n \nEnquiries\n\n\n\n\nHarbour Energy plc\n\n\n\n\nElizabeth Brooks, Head of Investor Relations 020 3833 2421\n\n\n\n\nBrunswick\n\n\n\n\nPatrick Handley, Will Medvei 020 7404 5959\n\n\n\n\n\nNotes to editors\nHarbour's 53.125 per cent interest in Block 12W, which contains the Chim Sao and Dua fields, is made up of a 28.125 per cent operated interest held through Premier Oil Vietnam Offshore BV and a 25 pe...