UPDATE 2-China's CNOOC hopeful on Nexen bid; raises FY output goal

Wed Oct 24, 2012 7:09am EDT
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* CNOOC working to win Canadian approval for Nexen bid

* Q3 output up 8.5 pct on new projects, overseas output

* Raises 2012 output target to 335-345 mln boe

* Q3 revenue up nearly 5 pct despite lower oil selling prices

By Charlie Zhu

HONG KONG, Oct 24 (Reuters) - CNOOC Ltd, China's top offshore oil and gas producer, said on Wednesday it was working to win regulatory approval from Canada this year for its $15.1 billion bid for energy producer Nexen .

"Our team is still working to obtain approval," Chief Financial Officer Zhong Hua told reporters on a conference call about CNOOC's third-quarter results. "We still expect to get the approval by the end of the year."

His comments came days after Ottawa held up Malaysian state oil company Petronas' $5.2 billion bid for Canada's Progress Energy Resources Corp, a move that raised concerns that the Chinese offer for Nexen - which would be China's biggest overseas takeover - could also be blocked.

Under a barrage of questioning from reporters, Zhong said CNOOC had submitted all the documents requested by Canadian and U.S. regulators for the proposed deal. He declined to elaborate further.   Continued...