China’s CNOOC Ltd has bought its US subsidiary, alongside with its upstream oil and gas resources in the Gulf of Mexico, to British chemicals community INEOS, in step with a CNOOC issue issued on Saturday.
The Chinese oil and gas predominant said CNOOC Energy Holdings USA entered into a sales settlement with a subsidiary of INEOS touching on to CNOOC’s upstream oil and gas resources in the US fragment of the Gulf of Mexico.
The deal basically contains non-operator interests in oil and gas projects a lot like the Appomattox and Stampede fields.
INEOS paid true below $2 billion for the resources, in step with a individual with narrate data of the subject who used to be no longer accepted to talk to media. CNOOC and INEOS didn’t straight away answer to requests for issue.
The firm targets to optimise its world asset portfolio and will work with INEOS in opposition to a mushy transition, CNOOC International Chairman Liu Yongjie said in the issue.
CNOOC has been sounding out likely buyers of its interests in US oil and gas fields since 2022.
Reuters had reported earlier CNOOC used to be brooding about an exit from operations in Britain, Canada and the United States over concerns these resources would possibly perhaps change into arena to Western sanctions on story of China had no longer condemned Russia’s invasion of Ukraine.
