China’s Cnooc Considers Norway Exploration as Oil Trumps Nobel
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Cnooc Ltd. is sizing up the potential for oil exploration in Norway’s Arctic as China’s biggest offshore producer ignores a freeze in the two countries’ relations since the 2010 Nobel Peace Prize.
The state-owned Chinese company and its Canadian subsidiary, Nexen Inc., are looking at buying seismic data covering an area of the Barents Sea where licenses will be awarded in 2016, according to a Sept. 30 e-mail to the Norwegian Petroleum Directorate. Bloomberg News obtained the message through a freedom-of-information request.