Davis Polk advised CNOOC Limited as to U.S. and Hong Kong law in connection with the SEC-registered offering of guaranteed notes by CNOOC Finance (2015) Australia Pty Ltd, a wholly owned subsidiary of CNOOC Limited, of its $1.5 billion 2.625% guaranteed notes due 2020 and $300 million 4.200% guaranteed notes due 2045, and by CNOOC Finance (2015) U.S.A. LLC, a wholly owned subsidiary of CNOOC Limited, of its $2.0 billion 3.500% guaranteed notes due 2025, for a combined aggregate principal amount of $3.8 billion. The notes were listed on the Hong Kong Stock Exchange.  

CNOOC Limited, listed on the New York, Hong Kong and Toronto stock exchanges, is an upstream company specializing in the exploration, development and production of oil and natural gas. It is a dominant oil and natural gas producer in offshore China and also one of the largest independent oil and natural gas exploration and production companies in the world in terms of reserves and production.   

The Davis Polk corporate team included partners James C. Lin, Eugene C. Gregor and Antony Dapiran, counsel Faisal Baloch, associate Stephenie Fung and registered foreign lawyers Kevin Zhang and Ran Li. The tax team included partner John D. Paton and associate Nicholas A. Machen. The Investment Company Act team included Jake H. Wang. Members of the Davis Polk team are based in the Hong Kong, Beijing, New York and London offices.