Chinas CNOOC has completed its purchase of an increased stake in the Indonesian Tangguh LNG proje...
The acquisition of the shares is the direct result of CNOOC paying US$105.1 million for a 20.76% increase in the Muturi PSC, which it purchased from BG Group. CNOOC’s new 64.77% stake in Muturi allows the firm to gain an additional 4.46% in Tangguh from its previous 12.5%.
CNOOC previously paid US$270 million for the original 12.5% share, which it bought in 2002.
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