CNPC to get 50 pct shares in SAPET for 15.48 mln usd

CNPC (Hong Kong) Ltd said it has agreed to acquire a 50 pct stake in SAPET Development Corp from parent China National Petroleum Corp for 15.48 mln usd. In a statement, CNPC said the consideration will be funded internally. CNPC said blocks 6 and 7 represent low risk oilfields and the acquisition satisfies CNPC's low risk investment criteria.

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