Significant Chinese investments in Alberta
December 2012: Encana Corp. announces $1.18-billion joint venture with Petro-China Co.The state-owned company will get a 49.9-per-cent stake in Encana’s Duvernay Shale acreage for $1.18 billion and $1 billion in development costs over four years.
July 2012: Calgary-based Nexen Inc. agrees to a friendly $15-billion takeover bid by CNOOC, China’s largest offshore oil producer. Following lengthy federal review, the deal is approved in December.
January 2012: Calgarybased Athabasca Oil Sands Corp. announces sale of its remaining 40 per cent of the MacKay River project in northern Alberta to PetroChina for $680 million. PetroChina becomes first Chinese-stateowned company to wholly own a Canadian oilsands project.
December 2011: Sinopec Group spends $2.2 billion acquiring Calgary oil and gas explorer Daylight Energy Ltd.
November 2011: CNOOC buys Calgary oilsands developer Opti Canada Inc. for $2.1 billion US.
May 2010: China Investment Corp. injects $1.25 billion into Penn West Energy to develop the trust’s oilsands assets in the Peace River region.
April 2010: Sinopec purchases ConocoPhillips’ nineper-cent ownership stake in Syncrude oilsands development for $4.7 billion.
August 2009: PetroChina buys a 60-per-cent share in Athabasca Oil Sands’ MacKay River and Dover projects for $1.9 billion.
May 2005: Sinopec pays $105 million for 40 per cent of Northern Lights oilsands project operated by Synenco Energy, which it subsequently increases to 50 per cent before Synenco is sold to Total SA in 2008 for $480 million.
April 2005: CNOOC Ltd. pays $122 million for 16.7 per cent in Calgary-based MEG Energy Ltd. for a northern Alberta oilsands project.
June 1993: China National Petroleum Corp. acquires 15.9 per cent operating interest in North Twining oilfield and 11.5 per cent equity of an Alberta gas processing plant; deal reportedly gives China its first overseas oil production.