Cnooc Sells 25 Percent of Qatar Exploration License to Total
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Cnooc Ltd., China’s biggest offshore oil producer, sold a 25 percent stake in a license to explore for hydrocarbons in Qatar to France’s Total SA as the Chinese company seeks to reduce risk.
The Beijing-based producer, which secured rights to the offshore concession two years ago, will retain a 75 percent stake and operate the area called Block BC, according to an e-mailed statement yesterday.