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CNOOC subsidiary gets nod to invest in Australian gas assets
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Monday, 21 Feb 2011
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Interfax-China reported that CNOOC Gas Power Group Ltd the wholly owned subsidiary of China third largest oil and gas producer China National Offshore Oil Corp received approval from Australia Foreign Investment Review Board to acquire Exoma Energy Ltd coal seam gas and shale gas assets.

In December 2010, CNOOC Gas Power reached an agreement with Exoma to acquire a 50% interest in 26,840 square kilometers of its CSG and shale gas assets in Queensland's Galilee Basin for AUD 50 million. These assets have a gas resource potential of 2.83 trillion cubic meters.

(Sourced from Interfax-China)

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