April 26, 2013 / 9:54 AM / 5 years ago

CNOOC yet to include Nexen in 2013 output and capex targets

HONG KONG, April 26 (Reuters) - China’s top offshore oil producer CNOOC Ltd’s previously announced output and capital expenditure targets for 2013 did not include contribution from Nexen that it acquired in February, chief financial officer Zhong Hua told reporters on Friday.

CNOOC announced in January that it aimed to produce 338 million-348 million barrels of oil equivalent (boe) this year, an increase of up to 2 percent from the previous year. Capital expenditure would reach $12 billion-$14 billion this year, it said.

CNOOC completed its $15.1 billion acquisition of Canadian energy firm Nexen Inc in February, China’s largest ever overseas takeover.

Earlier on Friday, CNOOC said its production increased 17.3 percent year on year in the first quarter, thanks in part to contribution from Nexen.

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