CNOOC in Cooperation Pact with Majors
CNOOC Limited announced Tuesday that its parent company, China National Offshore Oil Corporation (CNOOC), has signed strategic cooperation agreements with the following companies:
- Chevron Corporation
- ConocoPhillips Company
- Equinor ASA
- Kuwait Foreign Petroleum Exploration Company (KUFPEC)
- Roc Oil
- Royal Dutch Shell plc
- SK Innovation
- Total S.A.
The agreements “will facilitate the establishment of a long term and stable cooperation” and share development opportunities “to a certain extent” in strategic cooperation areas, CNOOC Limited revealed.
The strategic cooperation areas are located in the Pearl River Mouth Basin offshore China, including Area A and Area B. Area A is approximately 5,907 square miles and Area B is approximately 18,803 square miles.
Back in September, CNOOC signed a production sharing contract (PSC) with Empyrean Energy plc for Block 29/11 in the South China Sea. In July CNOOC signed a PSC with Roc Oil (Bohai) Company and Smart Oil Investment Ltd. for the Weizhou 10-3W oilfield and Block 22/04 in the South China Sea.
CNOOC also signed two PSCs with Husky Oil Operations (China) Limited in May for Block 22/11 and 23/07 in the South China Sea.
CNOOC is the largest offshore oil and gas producer in China, according to the company’s website. The company was founded in 1982.
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