HONG KONG, June 7, 2019
/PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, NYSE:
CEO, TSX: CNU) announced today that the Company and CEPR
Limited("CEPR"), a wholly-owned subsidiary of the Company,
entered into a Share Purchase Agreement with Joint Stock Company
Novatek ("JSC Novatek") and Ekropromstroy Limited Liability
Company("Ekropromstroy"), a wholly-owned subsidiary of JSC Novatek,
pursuant to which, CEPR shall acquire 10% equity interest in Arctic
LNG 2 LLC held by Ekropromstroy (the "Acquisition").
Pursuant to the Share Purchase Agreement, completion of the
acquisition is conditional upon the approval of relevant government
authorities of China and
Russia and satisfaction of certain
other conditions. The acquisition is expected to complete in the
near future.
JSC Novatek is principally engaged in the exploration,
production, processing and marketing of natural gas and liquid
hydrocarbons and has more than 20 years of operational experience
in the Russian oil and natural gas sector.
Arctic LNG 2 LLC is a limited company incorporated in the
Russian Federation engaging in the
Arctic LNG 2 Project, the second large onshore conventional natural
gas project led by JSC Novatek on the Gydan Peninsula in
Russia, which contains the
development and production of Utrenneye gas field and the
construction and operation of three liquefied natural gas trains.
Arctic LNG 2 LLC holds the liquefied natural gas licence that
grants an exclusive right to export liquefied natural gas produced
from gas extracted from the Utrenneye gas field.
Notes to Editors:
More information about the Company is available at
http://www.cnoocltd.com.
This press release includes "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995, including statements regarding expected future
events, business prospectus or financial results. The words
"expect", "anticipate", "continue", "estimate", "objective",
"ongoing", "may", "will", "project", "should", "believe", "plans",
"intends" and similar expressions are intended to identify such
forward-looking statements. These statements are based on
assumptions and analyses made by the Company in light of its
experience and its perception of historical trends, current
conditions and expected future developments, as well as other
factors the Company believes are appropriate under the
circumstances. However, whether actual results and developments
will meet the expectations and predictions of the Company depends
on a number of risks and uncertainties which could cause the actual
results, performance and financial condition to differ materially
from the Company's expectations, including but not limited to those
associated with fluctuations in crude oil and natural gas prices,
the exploration or development activities, the capital expenditure
requirements, the business strategy, whether the transactions
entered into by the Group can complete on schedule pursuant to
their terms and timetable or at all, the highly competitive nature
of the oil and natural gas industries, the foreign operations,
environmental liabilities and compliance requirements, and economic
and political conditions in the People's
Republic of China. For a description of these and other
risks and uncertainties, please see the documents the Company files
from time to time with the United States Securities and Exchange
Commission, including the Annual Report on Form 20-F filed in April
of the latest fiscal year.
Consequently, all of the forward-looking statements made in this
press release are qualified by these cautionary statements. The
Company cannot assure that the results or developments anticipated
will be realised or, even if substantially realised, that they will
have the expected effect on the Company, its business or
operations.
For further enquiries, please contact:
Ms. Jing Liu
Manager, Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-3404
Fax: +86-10-8452-1441
E-mail: mr@cnooc.com.cn
Ms. Ada Leung
Hill+Knowlton Strategies Asia
Tel: +852-2894-6225
Fax: +852-2576-1990
E-mail: CNOOC@hkstrategies.com
Logo -
http://photos.prnasia.com/prnh/20150819/8521505396LOGO
View original
content:http://www.prnewswire.com/news-releases/cnooc-limited-entered-into-a-share-purchase-agreement-for-the-acquisition-of-10-equity-interest-in-arctic-lng-2-llc-300863803.html
SOURCE CNOOC Limited