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CNOOC sells Talisman $200M LNG stake


Published Jan 28, 2008
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LNG

China’s CNOOC Ltd. has struck a deal with Canada-based oil company Talisman Energy Inc. for a Canadian stake in the liquefied natural gas project Tangguh LNG.

Under the deal, it is understood Talisman has received $212.5 million in the equity of the CNOOC company co-owning the Indonesian LNG project.

Tangguh LNG in West Papua consists of offshore gas wells, production facilities, pipelines and LNG plant good for of 7.6 million tonnes per year. The Project comprises production-sharing areas Berau PSC, Muturi PSC and Wiriagar PSC.

First gas is expected in late 2008, the Chinese oil company said.

Saipem of Italy and KBR have led the development.

Tags: CNOO Ltd., Talisman Energy



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