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LUKoil Eyes Vietnam Deal

HANOI, Vietnam — LUKoil said it is considering bidding for exploration in more oil and gas blocks offshore Vietnam after acquiring the first block in the Southeast Asian country's northern area.

"LUKoil participates in biddings," said Natalya Chekhronova, a public relations official with LUKoil Overseas Holding.

LUKoil acquired the Hanoi Trough 02 block offshore the northern city of Haiphong from Quad Energy, becoming the fourth Russian firm to invest in Vietnam, after Zarubezhneft, Gazprom and TNK-BP. The firm would drill three wells by early next year and 12 locations could have promising oil deposits, Alexander Nekhaev, director of LUKoil Overseas Vietnam, has said.

(Reuters)

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