CNOOC frequently made actions.(Cooperation)(China National Offshore Oil Corp.)

China Chemical Reporter, December, 2005

After a short term silent from the acquiring Unocal case, CNOOC (China National Offshore Oil Corporation) recently became the most active oil company in China. It started to construct its first refining project and settled several contracts with oversea partners in one month.

Signs the fourth deepwater contract

CNOOC Limited (883.hk) announced on December 6th, 2005 that its parent company, CNOOC, has signed a production sharing contract (PSC) with Devon Energy Corporation of USA (NYSE:DVN) for deepwater block 42/05. The block, located in Baiyun Sag of Pearl River Mouth Basin in the Eastern South China Sea, covers a total area of 6 939 square kilometers with water depth ranging from 300 to 2 000 meters.

Under the terms of the contract,...

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