Offshore staff
CALGARY, Canada – The Canadian government has approved the proposed $15.1 billion acquisition of energy company Nexen by by China’s state-run CNOOC. No further approvals are required in Canada.
"This is an important milestone in the process and confirms our belief that this transaction provides a number of significant benefits to Canada and to Nexen," said Kevin Reinhart, Nexen's interim president and CEO. "We remain focused on working with CNOOC to bring this transaction to a close."
Closing remains subject to the receipt of applicable government and regulatory approvals, and the satisfaction or waiver of other customary closing conditions, Nexen said.
Nexen’s business focuses on oil sands and shale gas in western Canada and conventional exploration and development in the North Sea, offshore West Africa and the deepwater Gulf of Mexico.
12/10/2012
