Chinese oil & gas holding Cnooc (NYSE: CEO, TSX: CNU) expects its Colombia-focused unit Nexen to produce approximately 69Mboe this year, a Cnooc press release said.
Cnooc forecast its global 2.014 capital expenditure at 105bn-120bn yuan (US$17.3bn-19.8bn), with approximately 19% of that going towards Nexen.
Group wide, the holding expects to produce 422M-435Mboe this year, Cnooc said.
Cnooc acquired Nexen last year for US$15.1bn the largest foreign takeover by a Chinese firm to date.
Nexen holds conventional and shale gas assets in Colombia through its local subsidiary Nexen Petroleum Colombia.
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