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24

CNOOC Continues To Chase Chevron

The Chinese company may seek stakes in other Australian energy ventures

China's National Oil Offshore Company is likely to invest in Australia's Gorgon gas project, a venture led by Chevron Corp.

Gorgon spokesman said that talks with CNOOC on the sale of a stake in Gorgon and on an LNG supply agreement were continuing.

The Chinese company may seek stakes in other Australian energy ventures as takeovers of local oil companies would face political obstacles, some Australian analysts suppose.