CNOOC-Bridas JV ups ante in Pan American Energy

摘要

Bridas Corp., a 50/50 joint venture between Hong Kong-based CNOOC Ltd. (NYSE: CEO) and Bridas Energy Holdings, has entered a share-purchase agreement with BP Plc, London, (NYSE: BP) to acquire a 60% equity interest in Pan American Energy for around US$7.06 billion. The acquisition excludes Pan American's assets in Bolivia, and adds to Bridas' existing 40% interest in the company.