Stake Purchase • Oil/Gas Exploration

CNOOC Invests In Arctic LNG 2

On June 7, 2019, CNOOC invested in oil/gas exploration company Arctic LNG 2

Investment Context

This is CNOOC’s 6th transaction in the Oil/Gas Exploration sector.
This is CNOOC’s 1st transaction in Russia.

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Investment Summary
Date	June 7, 2019
Target	Arctic LNG 2
Sector	Oil/Gas Exploration
Investor(s)	CNOOC
Deal Type	Stake Purchase

Target Company

Arctic LNG 2

Russia

Arctic LNG 2 LLC the second large onshore conventional natural gas project led by JSC Novatek on the Gydan Peninsula in Russia, which contains the development and production of Utrenneye gas field and the construction and operation of three liquefied natural gas trains. Arctic LNG 2 LLC holds the liquefied natural gas license that grants an exclusive right to export liquefied natural gas produced from gas extracted from the Utrenneye gas field.

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Investor Overview 1

Investor

CNOOC

Hong Kong, China

Category	Company
Founded	1999
Sector	Oil/Gas Exploration
Employees	22,181
Revenue	426.3B CNY (2024)

DESCRIPTION

CNOOC is a producer of offshore crude oil and natural gas in China and one of the independent oil and gas exploration and production companies in the world. The Group mainly engages in exploration, development, production and sale of oil and natural gas. CNOOC was founded in 1999 and is based in Hong Kong, China.

Deal Context for Investor	#
Overall	6 of 6
Sector: Oil/Gas Exploration	6 of 6
Type: Stake Purchase	3 of 3
Country: Russia	1 of 1
Year: 2019	1 of 1

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2012-07-23	Nexen Energy ULC Calgary, Alberta, Canada Nexenis an upstream oil and gas company responsibly developing energy resources in the UK North Sea, offshore West Africa, the United States and Western Canada.Nexen has three principal businesses: conventional oil and gas, oil sands and shale gas / oil.	Buy	$15.1B

DATE

TARGET

DEAL TYPE

VALUE

2012-07-23

Nexen Energy ULC

Calgary, Alberta, Canada

Nexenis an upstream oil and gas company responsibly developing energy resources in the UK North Sea, offshore West Africa, the United States and Western Canada.Nexen has three principal businesses: conventional oil and gas, oil sands and shale gas / oil.

Buy

$15.1B

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