CNOOC, Sinopec Form Exploration Partnership

July 10, 2019

© ddukang / Adobe Stock
© ddukang / Adobe Stock

China's offshore oil and gas specialist CNOOC Ltd said on Wednesday it entered a framework deal with China Petroleum and Chemical Corp, or Sinopec Corp, to jointly study and explore mostly offshore oil and gas blocks.

Under the deal, the two state oil firms will jointly study and explore for oil and gas resources at Bohai Bay off north China, Beibu Gulf in the South China Sea, South Yellow Sea area as well as onshore North Jiangsu basin.

The cooperation, that covers 19 blocks with a total area of 26,900 square kilometers, will be carried out in three years, CNOOC said, without stating when that will start.


(Reporting by Chen Aizhu; Editing by Rashmi Aich)

Categories: Industry News Asia


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