ConocoPhillips Sells Vietnam Ops To Perenco For $1.3B

Law360, New York (February 16, 2012, 1:14 PM EST) -- Energy giant ConocoPhillips said Thursday it would sell its Vietnamese operations to Anglo-French driller Perenco SA for $1.29 billion as part of a two-year program to divest pipeline and oil field assets.

The deal is expected to close in the first half of the year. Under the agreement, a Perenco subsidiary will acquire ConocoPhillips’ stakes in the 244-mile Nam Con Son pipeline and two offshore oil blocks in the Cuu Long Basin.

The move is part of an effort by ConocoPhillips to sell off $20 billion...
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