BEIJING, Dec 14 (Reuters) - China's CNOOC Ltd

has sold its U.S. subsidiary, together with its

upstream oil and gas assets in the Gulf of Mexico, to British

chemicals group INEOS, according to a CNOOC statement issued on

Saturday.

The Chinese oil and gas major said CNOOC Energy Holdings

U.S.A. entered into a sales agreement with a subsidiary of INEOS

relating to CNOOC's upstream oil and gas assets in the U.S. part

of the Gulf of Mexico.

The deal primarily includes non-operator interests in oil

and gas projects such as the Appomattox and Stampede fields.

The firm aims to optimise its global asset portfolio and

will work with INEOS towards a smooth transition, said chairman

of CNOOC International, Liu Yongjie, in the statement.

CNOOC has been sounding out potential buyers of its

interests in U.S. oil and gas fields since 2022.

Reuters had reported earlier CNOOC was considering an exit

from operations in Britain, Canada and the United States, on

concerns those assets could become subject to Western sanctions

because China had not condemned Russia's invasion of Ukraine.