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Last $8.51 HKD
Change Today -0.24 / -2.74%
Volume 77.6M
883 On Other Exchanges
Hong Kong
New York
As of 3:01 AM 11/27/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

Bank of China Tower

65th Floor

1 Garden Road

Hong Kong,

Hong Kong

Phone: 852 2213 2500

Fax: 852 2525 9322

namely, Usan and Usan West in the OML138 block, together with other discoveries and exploration targets. Uganda: The company owns one-third of the interest in each of EA 1, 2 and 3A in Uganda. EA 1, 2 and 3A are located at Lake Albert Basin in Uganda. Other Regions in Africa: Apart from Nigeria and Uganda, the company also owns interests in several blocks in Equatorial Guinea, the Republic of Congo, Algeria and the Gabonese Republic. North America The company holds interests in oil and gas assets in the U.S., Canada and Trinidad and Tobago in North America, as well as part of the shares of MEG Energy Corporation in Canada. The U.S: The company currently holds 33.3% interest in two shale oil and gas projects in the U.S., namely the Eagle Ford and Niobrara shale oil and gas projects. In addition, the company owns a number of exploration blocks in the U.S. Gulf of Mexico through its wholly-owned subsidiary, Nexen Energy ULC (Nexen). In 2014, Nexen made the new discovery of Rydberg in the Gulf of Mexico. The company also owns interests in several exploration blocks offshore Alaska. Canada In 2013, the company acquired the entire interest of Nexen in Canada. The assets of Nexen are mainly distributed in Canada, the U.K. North Sea, offshore Nigeria and the U.S. Gulf of Mexico. In Canada, the company owns the entire working interest in the oil sands project located at Long Lake, as well as three other oil sands projects in the Athabasca region in northeastern Alberta. In addition, the company holds 12.39% of the shares of MEG Energy Corporation in Canada. The company also owns a 60% interest in Northern Cross (Yukon) Limited, which owns oil and gas exploration blocks in the Yukon area in Canada. Other Regions in North America The company owns a 12.5% interest in the 2C block and a 12.75% interest in the 3A block in Trinidad and Tobago, of which the 2C block is in production. South America In South America, the company mainly holds a 50% interest in Bridas Corporation (Bridas) in Argentina and a 10% interest in the PSC of the Libra oilfield in Brazil. Argentina The company and Bridas Energy Holding each hold 50% shareholding interest in Bridas and make joint management decisions. Bridas Energy Holding holds 40% interest in Pan American Energy (PAE) in Argentina. Bridas Energy Holding is engaged in oil and gas exploration and production activities in Argentina mainly through its affiliates. Brazil The company holds a 10% interest in the Libra PSC, a deepwater pre-salt project in Brazil. The oilfield is located in the Santos Basin, with a block area of approximately 1,550 square kilometers and a water depth of about 2,000 meters. Other Regions in South America In South America, the company also holds interests in several exploration and production blocks in Colombia. Europe The company holds interests in several oil and gas fields such as Buzzard and Golden Eagle in the U.K. North Sea. The United Kingdom The company’s asset portfolio in the North Sea consists of projects under production, development and exploration, mainly including: a 43.2% interest in the Buzzard oilfield, and a 36.5% interest in the Golden Eagle block. In 2014, the company made two new discoveries in the North Sea, namely, Blackjack and Ravel. Other Regions in Europe The company holds a license issued by the government of Iceland for carrying out oil exploration operations in the Norwegian Sea in Northeastern Iceland. Proved Reserves As of December 31, 2014, the company had proved reserves of 4,478.0 million BOE (barrels-of-oil equivalent), including 2,458.9 million barrels of crude oil, 749.9 million barrels of synthetic oil, 31.4 million barrels of bitumen, and 7,268.1 bcf (billion cubic feet) of natural gas. Business Strategy The company intends to continue expanding its oil and gas exploration and production activities. The principal components of its strategy are as follows: focus on reserve and production growth; develop natural gas business; and maintain prudent financial policy. Sales and Marketing The company sells its crude oil produced offshore China to the Pe


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Valuation 883 Industry Range
Price/Earnings 7.6x
Price/Sales 1.4x
Price/Book 0.8x
Price/Cash Flow 2.8x
TEV/Sales 0.2x

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