TAIPEI (Dow Jones)--Taiwan's Formosa Plastics Group would be interested in buying assets that BP PLC (BP) is selling to help pay for the costs of its massive oil spill, a senior official at the group's flagship Formosa Plastics Corp. (1301.TW) unit said Thursday. "There's an interest, but it depends on conditions and the price," the official said, declining to be named. BP hasn't approached the company so far, he said. He didn't specify which assets Formosa would be interested in purchasing or their location. BP is selling properties in order to fund the mounting costs from the massive oil spill in the Gulf of Mexico, and has agreed to sell its assets in North America and Egypt to Apache Corp. (APA) for US$7 billion. BP said this week that it also plans to sell its gas fields and a pipeline in Vietnam, as well as exploration licenses in Pakistan. It so far hasn't said it plans to sell its Taiwanese assets. BP and another Formosa Group member, Formosa Chemicals & Fibre Corp. (1326.TW) have an equally-owned joint venture in Taiwan that produces 300,000 metric tons a year of acetic acid, which is capitalized at NT$1.71 billion (US$53.1 million). The Apple Daily Thursday cited Formosa Chemicals President F. Y. Hong as saying BP hasn't approached the company to sell its stake. Formosa Chemicals couldn't be reached for comment. BP also holds a 62.5% stake in a joint venture with Taiwan government-owned refiner CPC Corp, which produces purified terephthalic acid, or PTA, used to make plastic bottles and polyester fiber. CPC Vice President and spokesman Lin Maw-Wen said Thursday that BP told CPC it doesn't plan to sell its stake in the venture, called China American Petrochemical Co., or Capco. "PTA is profitable this year, so they're not selling," Lin said, adding any stake sale would yield a relatively small amount compared with the large amount BP needs to raise. Capco is capitalized at NT$6.88 billion, according to CPC's annual report. Lin said Capco's book value at the end of 2009 was NT$11.7 billion. The Press Trust of India reported Wednesday that India is pitching for BP's stake in Vietnam's Nam Con Son gas project. According to BP's website, the oil major operates the Nam Con Son gas project, which includes Lan Tay and Lan Do gas fields in Block 06.1, as well as a pipeline and a gas-fired power plant. BP also produces and distributes lubricants in Vietnam, and it has a contract to supply crude to Dung Quat, Vietnam's first refinery. -By Alex Pevzner, Dow Jones Newswires; 8862-2502-2557; alex.pevzner@dowjones.com (END) Dow Jones Newswires July 22, 2010 00:16 ET (04:16 GMT)