CNOOC Sells US Assets to UK's INEOS Energy

MT Newswires Live2024-12-17

CNOOC (SHA:600938, HKG:0883) sold the Gulf of Mexico business held by its US subsidiary, CNOOC Energy Holdings USA, to British chemicals group INEOS Energy.

The deal includes a portfolio of non-operated assets centered around two deep water early production assets, Appomattox and Stampede, as well as a number of mature assets and supporting businesses, INEOS Energy said in a press release on Saturday.

A source told Reuters that the payment for the assets was just under $2 billion.

The deal boosts INEOS Energy's global production to more than 90,000 barrels of oil equivalent per day.

Shares of CNOOC rose 1% in Shanghai and nearly 2% in recent trade.

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