CNPC International to buy EnCana's Chad holdings
Jan 15, 2007 01:00 AM
CNCP International (Chad), a subsidiary of China National Petroleum Corp., is buying EnCana's exploration assets in
Chad for $ 202.5 mm.
The divestment is part of EnCana's asset-management program to focus on core North American plays. EnCana now has
completed its withdrawal from exploration in Africa.
CNPC purchased all shares of EnCana International (Chad), which holds a 50 % working interest in Chad assets covering
seven sedimentary basins.
The transaction's effective date was Oct. 1, 2006. EnCana drilled 11 exploration wells as part of its 5-year
exploration program in Chad.
Source: OGJ
