CNOOC Intends To Join Garner For $5 Billion To Compete For Kosmos Assets.

Cnooc Limited (hereinafter referred to as CNOOC Zheng Join hands with Garner The national oil company (GNPC) is offering a price of $5 billion. Acquisition of Kosmos Energy In Garner's assets.

According to Bloomberg news, the two submitted their offer two weeks ago. However, because Kosmos is considering implementing IPO, the other side is still considering it and may put pressure on it.

Exxon Mobil has also offered to buy Kosmos assets including the Jubilee oil field 23.49% interest before buying $about 4000000000, but it failed in the end. The Jubilee oil field is estimated to be about 1 billion 800 million barrels of crude oil.

GNPC also holds preliminary consultations with Statoil ASA, the largest oil company in Norway, to join it as a bid partner, Bloomberg News said. Insiders said CNOOC did not participate in the negotiations.

At present, Kosmos spokesman did not immediately comment, CNOOC spokesman declined to comment. Statoil ASA spokesman said, "Norway national oil company is considering opportunities around the world, but we can not comment on specific projects."

Prior to October 11th, CNOOC has just announced some overseas acquisition plans. Its wholly owned subsidiary will purchase 33.3% of the US Eagle Beach shale oil project with us $1 billion 80 million in cash. The acquisition is expected to be completed in the fourth quarter of this year.

According to Thomson Reuters data, China's oil companies have 10 overseas acquisitions this year, mostly in Africa. The total investment amounted to US $18 billion 600 million, far exceeding US $15 billion 800 million in 2009.