First LNG from the project, which is located in West Papua, Indonesia, is expected in late 2008.
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CNOOC Sold Indonesian LNG Project Interest to Canada
Chinese oil company CNOOC has sold a 3.06 percent interest in Indonesia's Tangguh LNG project to Canada's Talisman Energy for US$ 212.5 million
Chinese oil company CNOOC has sold a 3.06 percent interest in Indonesia's Tangguh LNG project to Canada's Talisman Energy for US$ 212.5 million, it said in a statement on Monday.
CNOOC said that before the transaction, which came into effect on January 1, it owned 16.96 percent of working interests in the project, which has a nameplate capacity of 7.6 million tonnes of LNG per year.
Talisman, Canada's No. 3 independent oil producer, had filed a lawsuit against CNOOC Ltd, claiming it was entitled to 44 percent of CNOOC's stake in the project following its acquisition of Britain's Paladin Resources in 2005.
First LNG from the project, which is located in West Papua, Indonesia, is expected in late 2008.
First LNG from the project, which is located in West Papua, Indonesia, is expected in late 2008.
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