BP's (NYSE:BP) Algerian Assets Also Interest Gazprom

The BP (NYSE:BP) joint venture with Russian billionaires called TNK-BP, may have some other competition from mother Russia, as the giant Russian energy company Gazprom has said they would be amiable to looking at an acquisition of BP assets in Algeria.

"If the Algerian side offers these assets to us, we will consider this possibility," said the company in response to a question from a reporter.

Rumors have circulated for some time that TNK-BP was possibly interested in the Algerian assets of BP, with Chairman Mikhail Fridman confirming that was the case on Wednesday.

This is part of the divestiture of BP assets in order to raise up to $30 billion to pay for its mounting liabilities from the Gulf oil spill.

Assets held by BP in Algeria are valued at approximately $3 billion.

TNK-BP is also interested in assets held by BP in Venezuela and Vietnam.

BP (NYSE:BP) Approved by Venezuela to Sell Oil Assets

In an attempt to raise up to $30 billion to pay for liabilities related to the Gulf of Mexico oil spill, BP (NYSE:BP) is trying to sell assets in Venezuela, and they've been given approval by the government to go ahead with the process.

The assets held in Venezuela include an interest in heavy oil and minority stakes in two exploration and production ventures with state-owned oil company PDVSA.

Combined it is estimated BP should be able to raise up to $1 billion from the assets. Although a relatively minor deal in comparison with others, it is one of the bigger challenges for the company to divest of.

The only two companies considered a buyers for the stakes are PDVSA itself, and possibly the joint venture of BP with Russia called TNK-BP. The Russian connection would make it more palatable to Venezuela.

BP holds a 50 percent stake in TNK-BP, which also has interests in Vietnam and Algerian assets held by BP.

India Eyeing Assets of BP in Vietnam

BP (NYSE:BP) has let it be known that they are looking for buyers of their assets in Vietnam, and India has stepped forward first to say they're interested in the projects there.

Oil Minister Murli Deora said government-run businesses are going to negotiate with PetroVietnam, which is the largest oil producer in the country, about acquiring assets held by BP.

Also reportedly on the table is a $1.3 billion stake BP holds in the Nam Con Son gas project, among the largest of investment projects from foreign companies in Vietnam.

Among assets held in Nam Con Son are a gas-run power plant, pipeline, and the Lan Tay and Lan Do gas fields.

The sales of these and other assets are for the purpose of raising capital to put in the $20 billion escrow fund, and other related liabilities.