OREANDA-NEWS. March 29, 2011. China National Offshore Oil Corp., the nation’s largest offshore oil developer, got state approval to buy a 50 percent stake in Exoma Energy Ltd.’s exploration blocks in Australia for AUD50 million (USD 50.5 million).

The parent of Cnooc Ltd. will gain access to Exoma’s five coal-seam gas blocks in Queensland, the National Development and Reform Commission said in a statement on its website.

China National signed an agreement for the Australian gas blocks in December, joining companies such as BG Group Plc and Royal Dutch Shell Plc in exploring for coal-bed methane to meet rising demand for energy from the Asia-Pacific region including China. Domestic rival PetroChina Co. and Shell acquired Australian coal-seam gas producer Arrow Energy Ltd. last year for AUD3.5 billion.

Listed unit Cnooc also received approval from the Chinese government to buy 33.3 percent of Chesapeake Energy Corp.’s Niobrara shale gas project in Colorado and Wyoming, according to another statement on the NDRC website.