Anadarko has been looking for a buyer for its 35% stake in Caofeidian since early this year as it aims to focus on its US assets.

CNOOC is Anadarko’s production sharing partner and holds a 51% stake in the field, and sources said it will likely exercise its pre-emption right to buy Anadarko’s interest.

However, completion of the deal is likely to slip from the original timeline of the end of this year, sources said.