|CNOOC Limited, along with its subsidiaries, is a producer of offshore crude oil and natural gas and an independent oil and gas exploration and production company. The Company is engaged in exploration, development, production and sales of oil and natural gas. It operates in three segments: independent operations, production sharing contracts or other joint arrangements and trading business. The Company has four producing areas in offshore China, which include the Bohai Bay, Western South China Sea, Eastern South China Sea and East China Sea. In overseas, it has oil and gas assets in Indonesia, Australia, Nigeria, Argentina, the United States and other countries. During 2010, the Company acquired a 50% interest in Bridas Corporation; acquired 24.5% interest in block 15/34, and acquired a 33.3% undivided interest in Eagle Ford Shale project. In 2011, the Company acquired a 33.3% undivided interest in Chesapeake's Niobrara oil and gas project.