CNOOC interested in $ 10 bn of Yukos' assets

China National Offshore Oil Corp (CNOOC) has expressed interest in acquiring $ 10 bn of assets in dismembered Russian oil group Yukos.
"Cooperation with Yukos not only depends on the companies' intentions but it also needs a high degree of government policy and coordination," CNOOC chairman Fu Chengyu was quoted as saying.

Fu visited Russia in August following CNOOC's unsuccessful bid for California oil group Unocal, but it was unclear if he had met with any Yukos officials. He stressed that many uncertainties exist for foreign oil companies wishing to invest in Russia as the country nationalizes its oil sector.
"But we will not give up on Russia," he said. "Beyond acquisitions, we are willing to explore other ways."

The Yukos oil giant has been largely dismantled after tax investigations and the sale of its largest facility to a state-owned company.
Its former chief executive, Mikhail Khodorkovsky, is serving eight years in prison on fraud and tax evasion charges. His imprisonment in May was seen by critics as a Kremlin-driven reprisal for his forays into politics against President Vladimir Putin.

Yukos' main production subsidiary, Yuganskneftegaz, was sold at auction last year for $ 9.3 bn.
The Russian oil group previously said it hoped to liquidate its international assets before the end of 2006.