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

Fugro Lands Deepwater Gas Job for Eni off Cyprus

Fugro Lands Deepwater Gas Job for Eni off Cyprus

BOEM Looks to Open 80 million Acres for Oil and Gas Lease Sale

BOEM Looks to Open 80 million Acres for Oil and Gas Lease Sale

Acteon’s Rocksteady Tension Tool Selected by InnovateUK

Acteon’s Rocksteady Tension Tool Selected by InnovateUK

Current News

Eco Wave Power, AltaSea Agree Wave Energy Pilot’s September Launch

Fugro Lands Deepwater Gas Job for Eni off Cyprus

New Subsea Infrastructure at Troll-Fram to Bring More Oil and Gas to Europe

Transocean Encourage Rig Up for Norwegian Sea Drilling Job

Subscribe for OE Digital E‑News

Offshore Engineer Magazine