CNOOC, Chesapeake close $1b shale deal
Updated: 2010-11-16 13:30
China's top offshore oil producer CNOOC Ltd and Chesapeake Energy Corp on Tuesday announced the completion of the Eagle Ford Shale project deal in the United States.
The completion of the deal marks a victory for CNOOC's quest for US government's approval.
CNOOC will also fund 75 percent of Chesapeake's share of drilling and completion costs of up to $1.08 billion by year-end 2012.
Analysts and bankers said the deal could mark the start of more outbound acquisitions as the Chinese company races to meet its aggressive production growth forecasts to feed the country's fast-growing economy.
Wimbledon semifinalist Li Na led host China to capture the team tennis title on Tuesday at the Asian Games, accomplishing her Asiad tour with three consecutive victories.
Born into a family of doctors, Maxime became interested in Traditional Chinese Medicine (TCM) at the age of 12, after hearing about TCM theories such as health preservation and recuperation.
Acupuncture and Peking Opera have been selected as candidates for UNESCO intangible cultural heritage status.
A groom carries his bride from a wedding coach in Xuchang, Henan province, Nov 11, 2010. Produced a local factory, various original hand-made wedding carriages were displayed on the streets, attracting young people chasing fashion and an environment-friendly lifestyle.