GE could not be immediately reached for comment by Reuters outside regular U.S. business hours. Hong Kong-based CNOOC could also not be immediately reached for comments.
China Daily quoted analysts as saying the move would boost CNOOC’s asset management and investment capabilities. It also lends credence to the offshore oil explorer’s efforts to develop itself into an integrated energy company, the paper said.
In March, China National Offshore Oil Corp, China’s biggest offshore oil explorer, said it will buy a 50 percent stake in Argentina’s Bridas Energy Holdings, for $3.1 billion, in a move by state-backed Chinese firms to secure energy resources to feed China’s fast-growing economy.
($1=6.827 Yuan) (Reporting by Shrutika Verma in Bangalore; Editing by Anshuman Daga)