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Oil exploration firm SOCO International (SIA), was hot on the heels of Tullow Oil (TLW), in selling off part of its portfolio following interest from Asia. It has sold its assets in the Yemen to Sinochem, the Chinese national oil company, for $465 million. Ed Story, President and CEO of SOCO, says: ‘The disposal will enable us to generate greater long-term value by re-investing the proceeds in the development of its core assets, particularly in Vietnam. ‘This transaction is another example of the company’s strategy of realising value for shareholders at the appropriate stage of an asset’s lifecycle.’

by: Tom Sieber