CNOOC In Deals With 9 Oil Companies Incl. Chevron, ConocoPhillips, Shell, TOTAL

(RTTNews) - Oil and gas exploration and production company CNOOC Limited (CEO, CNU.TO) announced Tuesday that its parent company, China National Offshore Oil Corp. or 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, excluding existing mining license areas and the contract areas.

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.