TNK-BP Said To Be Interest In ConocoPhillips Vietnam Assets

TNK-BP, BP's BP joint Russian venture with billionaire investors, is reportedly interested in acquiring the Vietnam assets of ConocoPhillips COP, the third-largest U.S. oil company. Those assets could be valued at as much as $1.5 billion, according to the London daily The Independent. Conoco is looking to sell its Vietnamese assets as part of a previously announced $17 billion asset divesture program. TNK-BP is Russia's third-largest oil company and already has a presence in Vietnam after purchasing assets in that country from BP last year for $1.8 billion. Texas-based Conoco hired HSBC to sell the company's Vietnamese assets.