According to the Financial Times, ONGC Chairman R. S. Sharma and Indian Oil and Gas Minister Murli Deora would be in Hanoi on July 21 for a talk on the deal with the Vietnamese authorities and the National Oil and Gas Group - PetroVietnam.

Sharma said the issue would be brought into discussion with UK Prime Minister David Cameron on his visit to New Delhi next week.

BP intends to sell all of its assets in Vietnam and Pakistan, except for its lubricants businesses, in an attempt to raise US$10 billion to help pay for the Gulf oil clean up and compensation. BP’s Vietnamese assets are estimated at about US$966 million.

BP has been operating in Vietnam for more than two decades and its flagship asset is the Nam Con Son gas project in the East Sea, in which it has a 35 percent interest in two fields, with ONGC holding a 45 percent stake and PetroVietnam owning a 20 percent stake.

BP has a minority stake in the 371km Nam Con Son pipeline connecting the field to onshore terminals, and controls a third of the Phu My power plant.

BP said it welcomes interests from any parties and will hopefully work towards a deal by the end of the year.