BEIJING, Nov 05, 2009 (Xinhua via COMTEX News Network) -- CNOOC Ltd. (CEO.NYSE; 0883.HK) has
acquired a stake in four Gulf of Mexico oilfields from Norwegian
state oil firm Stateoil, revealed the third quarter financial report
of Stateoil.
In its third quarter report, Stateoil said that it has sold some
equity in its four oilfields - Tucker, Logan, Cobra, and Krakatoa -
in the Gulf of Mexico to CNOOC Ltd. The latter now holds a 20 percent
share in exploring Tucker and 10 percent shares in each of the other
three blocks.
It is for the first time that a Chinese oil firm holds equity in
American oil assets. The last time CNOOC attempted to acquire US
UNOCAL Corporation in 2005, it confronted opposition in America,
which has long dampened the enthusiasm of Chinese oil firms to invest
in American oil and gas assets.
The Gulf of Mexico holds great potential for oil and gas
production and its current output accounts for one-fourth of the US
total.
It is forecasted that the annual production of the Gulf of Mexico
would reach 1.6 million barrels before 2011 and may climb to 1.9
million barrels before 2013.
Copyright 2009 XINHUA NEWS AGENCY
