KrisEnergy closes Vietnam farm-out deal
Southeast Asia-focused KrisEnergy has completed the farm-out deal for a block it operates offshore Vietnam, it said on March 31.
The company said that the Vietnamese authorities have approved the transfer of 100% working interest and operatorship of Block 115/09 and the transfer was completed on March 31. KrisEnergy has not disclosed the identity of the buyer.
The company reached an agreement to sell its stake in the block in February last year for nominal cash consideration.