China Oil Buys LatAm Beachhead

China Oil Buys LatAm Beachhead

Asia

CNOOC, China’s largest offshore crude oil and natural gas producer, is to pay approximately $3.1bn cash for a 50% stake in a joint venture with Bridas Energy Holdings (BEH). Bridas, through affiliates including a 40% interest in Pan American Energy, has oil and gas exploration and production activities in Argentina, Bolivia and Chile. “Bridas, with a world-class oil and gas asset portfolio, is a very good beachhead for us to enter Latin America,” says CNOOC president Yang Hua in a statement rele

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