On June 18, CNOOC Limited ("CNOOC Ltd.") announced that the company has completed its acquisition of 24.5% participation interests in Block 15/34 from Devon Energy Corporation ("Devon") for a total consideration of USD515 million. The transaction was signed on April 30, 2010.

CNOOC Ltd. acts as the Operator in Block 15/34. Currently gross production from the block is 49,000 barrels of oil per day.

After this transfer, CNOOC Ltd. will increase its stake to 75.5% in Block 15/34.

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