CNOOC Defends Its African Strategy
August 29th, 2007

CNOOC defended its drive for oil in Africa in today’s Financial Times, such as its deal last year when it and South Atlantic Petroleum paid $2.7bn for a 45 per cent stake in Nigeria’s Akpo field. According to the article, CNOOC expects the deep-water Akpo field to begin production by late 2008, and to have a peak output of 175,000 barrels of oil equivalent a day. Last month, the FT also revealed CNOOC signed a production-sharing deal with Somalia.


This entry was posted on Wednesday, August 29th, 2007 at 12:19 pm and is filed under China, China National Offshore Oil Corporation, Nigeria, Somalia.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

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