CNOOC acquires interests from Devon Energy

Source: CNOOC Ltd.

CNOOC Limited (CEO) announced  that the Company has completed its acquisition of 24.5% participation interests in Block 15/34 from Devon Energy Corporation for a total consideration of US $515 million. 

CNOOC Ltd. acts as the Operator in Block 15/34. Currently gross production from the block is 49,000 barrels of oil per day.

After this transfer, CNOOC Ltd. will increase its stake to 75.5% in Block 15/34.

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