petrovietnam on the accumulation path ?

For what it is worth I came across this article on Rigzone. Now it dates back to December 27th 2012 but I think it is interesting.

I am guessing here but perhaps PetroVietnam's concerns about the South China Sea area and the push to produce more oil and gas might perhaps drive a desire to acquire probable / possible productive prospects.

Obviously there is evidence that CRD could be productive and therefore could provide an early source to boost production and income.

Thus PetroVietnam gained an extra 5% when Vamex reduced its percentage. So it would make sense for PVN to pick up more this time around.

Read the article and see what you think:
"State-backed PetroVietnam revealed Thursday that it aims to produce 16 million metric tonnes of crude oil (112 million barrels of crude oil equivalent) and 9.2 billion cubic meters of gas in 2013.

In 2012, the company produced 16.7 million tonnes of crude; 5.6 percent more than its initial target and 9.8 percent more than in 2011.

PetroVietnam also disclosed that it produced 9.3 billion cubic meters of gas in 2012, 3.3 percent more than in its target and up 6.9 percent from 2011.

PetroVietnam acknowledged in its disclosure that territorial tensions in the South China Sea have made offshore exploration "difficult".

"It increases the cost of drilling … and make the Group's activities in the region more complicated," PetroVietnam said in its statement.
Relations between China, Vietnam and the Philippines plummeted to a new low this year amid contesting claims from all three countries for the Spratly Islands and the surrounding hydrocarbon-rich resource waters.

The continued disagreement has led to fierce clashes between the three countries. Several of these confrontations involved shots fired by Chinese patrol vessels and accusations by Vietnam that Chinese forces have twice severed exploration undersea cables in a disputed area.

PetroVietnam made it clear through its statement that it will not make any concessions about the South China Sea dispute. As part of its goals for 2013, PetroVietnam resolved to maintain a "tight control [over] oil and gas activities in the South China Sea."