Skip to content

CNOOC Acquires the Rights to a Uganda Drilling Area for US$1.467 Billion

On March 30, 2011, CNOOC (China National Offshore Oil Corp) announced that it had signed an agreement with U.K.’s Tullow Oil to acquire a one third interest in the company’s three drilling areas in Uganda. The transaction is a cash deal amounting to about US$1.467 billion. It is expected to close in the first half of 2011.

Source: China News Service, March 30, 2011
http://www.chinanews.com/ny/2011/03-30/2941922.shtml