CNOOC to buy into SAmerica's Bridas for $3.1 bln

HONG KONG, March 14 (Reuters) - China National Offshore Oil Corp (0883.HK) plans a joint venture with Argentina's Bridas Energy Holdings, paying $3.1 billion to take a 50 percent stake in Bridas Corporation, the company said on Sunday.

Bridas Corp, currently wholly-owned by Bridas Energy, will become equally owned by the partners and could have its name changed once the transaction is completed, CNOOC said in a statement to the Hong Kong stock exchange.

The new venture has oil exploration and production interests in Argentina, Bolivia and Chile, CNOOC said. (Reporting by Alison Leung; Editing by Greg Mahlich)