CNOOC in Cooperation Pact with Majors

CNOOC in Cooperation Pact with Majors
China National Offshore Oil Corporation signs strategic cooperation agreements with several oil and gas 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
  • Husky
  • 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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