China's largest offshore oil and gas driller, China National Offshore Oil Corporation, says it's closed a deal to acquire Canada's Nexen Incorporated. It's the largest overseas acquisition by a Chinese company.

A statement on the CNOOC website says it purchased Nexen's common and preferred shares with a total worth 15.1 billion US dollars. The acquisition gives the company new offshore production in the North Sea, the Gulf of Mexico and off western Africa, as well as producing properties in the Middle East and Canada.

CNOOC Chairman Wang Yilin says the deal will bring long-term benefits to shareholders. The takeover was originally announced in July. It won approval from Canadian regulators in December.

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