Frustration and Success of CNOOC's Overseas Oil Expansion Plan

摘要

After several weeks of suspense,CNOOC, China's major offshore oil producer, has been blocked from buying a stake in the North Caspian Sea PSA by members of the Western consortium running the project. The consortium in the North Caspian Sea oil field in Kazakhstan, which include the Royal Dutch-Shell Group,ExxonMobil Corp, Italy's ENI Agip and TotalFinaElf, exercised their preemptive right just ahead of May 9 deadline to replace CNOOC to buy British Gas interests in the project.