CNOOC Keeps Eagle Eye on South America for Oil and Gas Development

The China National Offshore Oil Corporation (CNOOC) is eyeing Argentina and other Latin American countries for oil and gas development.

CNOOC will facilitate this through a joint venture set up in March this year with Bridas Energy Holdings (BEH) of Argentina, said Fu Chengyu, president of CNOOC during a meeting with Julio de Vido, Argentinean minister of planning and development.

Fu said cooperation between CNOOC and BEH will increase the business link between China and Argentina, as well as with other countries in Latin America. De Vido said that in addition to energy, they are also very interested in increasing Chinese investments in agribusiness and tourism in Argentina.

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Source: Chinadaily,July 14, 2010;