CNOOC Ltd. agrees to acquire a stake in Kashagan field. (Newsdesk: Purchase & Overhaul).(Brief Article)

China Chemical Reporter,  March, 2003  

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On March 7, 2003 CNOOC Limited announced that it has entered into an agreement with BG International Limited (BG), a wholly owned subsidiary of BG Group, to acquire from BG a 1/12th (8.33%) interest in the North Caspian Sea Project in Kazakhstan for US$615 million.

The Project covers approximately 5 600 square kilometers of the Caspian Sea and includes the highly attractive Kashagan field, the Kalamkas discovery and three other significant exploration prospects: Kairan, Aktote and Kashagan SW. The Kashagan field is one of the largest oil and gas discoveries in the world and the ...

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