The Parent Company of CNOOC Limited, China National Offshore Oil Corporation (CNOOC), Signed Strategic Cooperation Agreements with Nine International Oil Companies, Including: Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation, and Total.
According to the agreements, the areas of strategic cooperation are located in the Pearl River Basin, off the coast of China, including Area – A and Area – B, where existing mining license areas and contract areas are not included.
Area A is approximately 15,300 square kilometers, with a water depth of 80 to 120 meters and open only to the deep layers below the Enping Formation of the Paleogene. Area B is approximately 48,700 square kilometers, with a water depth between 500 and 3,000 meters and open to all layers.
The agreements will facilitate the establishment of long-term and stable cooperation and will share development opportunities to a certain extent in the areas of strategic cooperation, creating conditions for the final signing of the contracts.
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CNOOC Limited, as an independent oil and gas exploration and production company, is the only vehicle through which CNOOC is engaged in the exploration, development, production, and sale of crude oil and natural gas.

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