CNOOC in Cooperation Pact with Nine Oil Majors

Laxman Pai
Wednesday, December 19, 2018

China National Offshore Oil Corporation (CNOOC), has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation, and Total.

According to the agreements, the Strategic Cooperation Areas are located in the Pearl River Mouth Basin offshore China, including Area A and Area B (existing mining license areas and the contract areas are not included).

Area A is approximately 15,300 square kilometers, with a water depth of 80-120 meters and only open for the deep layers below Enping Formation of Paleogene. Area B is approximately 48,700 square kilometers, with a water depth of 500-3,000 meters and open for all the layers.

The agreements will facilitate the establishment of a long term and stable cooperation and share the development opportunities to a certain extent in the Strategic Cooperation Areas, creating conditions for the final signing of contracts.

CNOOC Limited, as an independent oil and gas exploration and production company, is the only vehicle through which CNOOC engages in exploration, development, production and sale of crude oil and natural gas.

Categories: People & Company News Contracts Offshore Offshore Energy

Related Stories

U.S. BOEM, BSEE Looking at Ways to Boost Gulf of Mexico Oil and Gas Output

Operation Car Wash: Seadrill Served with Search and Seizure Warrant in Brazil

Denmark Launches Tender for Its Largest Offshore Wind Farm

Current News

Trump Extends Offshore Drilling Ban in North Carolina, Virginia

Guyana Nears Deal with Exxon for Payara Project

Canada Commits Nearly $240 Mln to Aid Offshore Oil Industry

Petrobras Eyes Sale of Albacora Offshore Fields

Subscribe for OE Digital E‑News