Taking a shot: CNOOC and PetroChina are reported to be planning bids for a stake in InterOil's Papua New Guinea gas project
- InterOil set to test Antelope find
- InterOil boosts upstream spend
- InterOil in share sale
- InterOil in Antelope estimate
- PNG signs LNG pact with CNOOC
- PNG signs CNOOC gas deal
- Testing time for Brazilian rig plans
- Antelope tests
- Petropars to take Cabinda North bite
- InterOil gets a boost from Antelope
- InterOil wraps up $70m share sale
Chinese pair eye InterOil PNG stake
China National Offshore Oil Corporation (CNOOC) and PetroChina are both planning bids for a stake in a natural gas project in Papua New Guinea owned by Canada’s InterOil that could be worth up to $500 million.
The South China Morning Post, citing anonymous sources, did not make clear whether the bids would be made by the parent companies or their listed entities. Representatives from CNOOC and PetroChina were not available for comment when contacted today.
Thailand's PTT is also among the bidders angling for as much as a 35% stake in the gas field development and terminal.
The possible bid comes on the heels of Sinopec Group's $7.2 billion bid for Swiss oil explorer Addax Petroleum.
China's energy majors have been snapping up overseas assets in recent months, spurred by the fall in oil prices and the drive to secure oil supplies for the world's second-largest energy user.
In May, InterOil said it had received strong interest from global oil majors and utilities to invest in its proposed $4.5 liquefied natural gas project in Papua New Guinea, a Reuters report said.