CNOOC Ltd subsidiary signs SPA with INEOS Energy
Published by Alfred Hamer,
Editorial Assistant
Oilfield Technology,
CNOOC Ltd has announced that CNOOC Energy Holdings U.S.A. Inc., a US-based subsidiary of its wholly owned subsidiary CNOOC International Ltd., has entered into a Stock Purchase Agreement (SPA) with a subsidiary of INEOS Energy for the sale of CNOOC Holdings U.S.A. Inc.
The SPA involves the Company’s upstream oil and gas business located in the US Gulf of Mexico, mainly consisting of non-operating interests in oil and gas projects including the Appomattox and Stampede fields.
Mr. Liu Yongjie, Chairman of CNOOC International Ltd., said, “The transaction follows general business principles and aims to further optimise the Company’s global asset portfolio. It will close upon obtaining regulatory approvals and satisfaction with the terms of the SPA. During this period, the Company will work closely with INEOS Energy to ensure a smooth and orderly transition.”
Read the article online at: https://www.oilfieldtechnology.com/exploration/16122024/cnooc-ltd-subsidiary-signs-spa-with-ineos-energy/
You might also like
EnerMech completes decommissioning workscope for Subsea7 in the Gulf Of Mexico
EnerMech has successfully completed a pipeline flushing and cleaning workscope for Subsea7 as part of an offshore field decommissioning programme in the Gulf of Mexico.