BEIJING/HONG KONG, 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.

INEOS paid just under $2 billion for the assets, according

to a person with direct knowledge of the matter who was not

authorised to speak to media.

CNOOC said the transaction price was in line with market

conditions but did not provide a figure, while INEOS declined to

comment on the price.

The Chinese firm aims to optimise its global asset portfolio

and will work with INEOS towards a smooth transition, CNOOC

International Chairman Liu Yongjie said 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 over

concerns those assets could become subject to Western sanctions

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