HONG KONG, March 14 (Reuters) - China National Offshore Oil Corp plans a joint venture with Argentina's Bridas Energy Holdings, paying $3.1 billion to take a 50 percent stake in Bridas Corporation, the company said on Sunday.
Bridas Corp, currently wholly-owned by Bridas Energy, will become equally owned by the partners and could have its name changed once the transaction is completed, CNOOC said in a statement to the Hong Kong stock exchange.
The new venture has oil exploration and production interests in Argentina, Bolivia and Chile, CNOOC said.
(Reporting by Alison Leung; Editing by Greg Mahlich)
((donald.durfee@thomsonreuters.com; +852 2843-1649; Reuters Messaging: donald.durfee.reuters.com@reuters.net)) Keywords: CNOOC/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Bridas Corp, currently wholly-owned by Bridas Energy, will become equally owned by the partners and could have its name changed once the transaction is completed, CNOOC said in a statement to the Hong Kong stock exchange.
The new venture has oil exploration and production interests in Argentina, Bolivia and Chile, CNOOC said.
(Reporting by Alison Leung; Editing by Greg Mahlich)
((donald.durfee@thomsonreuters.com; +852 2843-1649; Reuters Messaging: donald.durfee.reuters.com@reuters.net)) Keywords: CNOOC/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2010 AFX News
