By Houston Business Journal

BP Plc said Tuesday it plans to sell some assets in Vietnam and Pakistan to help pay for its $20 billion Gulf spill relief fund.

A spokesman for BP told The Associated Press that the company has informed the governments of both countries of its plans.

BP spokesman David Nicholas told AP that the company would use proceeds from the sale of various facilities in those countries to help pay for the relief fund. The British oil giant has yet to get any offers for the assets, according to Nicholas.

The assets include BP's interests in onshore production facilities in Pakistan and a natural gas producing field, a pipeline and power plant in Vietnam.

In June, BP (NYSE: BP) said it would try to sell $10 billion in assets over the next year to help pay for the spill.

On July 15, the company managed to put a 75-ton cap on the ruptured Macondo well that was spewing oil into the Gulf of Mexico after the April 20 Deepwater Horizon explosion.

On Tuesday, scientists worked to analyze data from the ocean floor in an attempt to determine whether the well cap, which is said to be leaking small amounts of oil, is making the situation worse.

The Houston Business Journal is providing continuous coverage of the Gulf oil spill.

Copyright 2010 American City Business Journals
Copyright 2010