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CNOOC Celebrates Cooperation Agreements With Nine Major Oil Companies

Written by Paulo Nogueira
Published on 18/12/2018 at 08:17
China National Offshore Oil Corporation (CNOOC),
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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.

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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Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

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