By OGJ editors
HOUSTON, Jan. 15 -- CNCP International (Chad) Ltd., a subsidiary of China National Petroleum Corp., is buying EnCana Corp.'s exploration assets in Chad for $202.5 million.
The divestment is part of EnCana's asset-management program to focus on core North American plays. EnCana now has completed its withdrawal from exploration in Africa.
CNPC purchased all shares of EnCana International (Chad) Ltd., which holds a 50% working interest in Chad assets covering seven sedimentary basins.
The transaction's effective date was Oct. 1, 2006. EnCana drilled 11 exploration wells as part of its 5-year exploration program in Chad.
