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CNOOC, Shell ink offshore block deals

July 26th, 2012 | Shanghai Daily

CHINA National Offshore Oil Corp has signed production sharing contracts with Anglo-Dutch energy major Shell for two offshore blocks in the South China Sea.

Shell will conduct 3D seismic data survey and drill exploration wells in Blocks 62/02 and 62/17 in Yinggehai during the exploration period, in which all expenditure incurred will be borne by Shell, CNOOC said in a statement yesterday.

CNOOC has the right to participate in up to 51 percent working interest in any commercial discoveries in the blocks, the company said.

Shell also said it has entered a deal with CNOOC for its participation in Shell’s exploration of two offshore blocks in Gabon, West Africa.

Meanwhile, Shell revealed that it has amended a production sharing contract with China National Petroleum Corp for the Changbei onshore gas field in the Ordos Basin.

By Richard Fu

Other Articles:

  1. CNOOC amends output deals with Chevron, BP
  2. Chinese oil company inks deal with Qatar to explore offshore block
  3. CNOOC agrees to purchase 50 pct stake in gas exploration blocks of Australia’s Exoma
  4. Shell wants to join in CNOOC refinery plan
  5. CNOOC accesses 5 Aussie gas blocks
  6. CNOOC to start drilling first oil well offshore in Cambodia
  7. CNOOC’s 4-way deal
  8. CNOOC Limited Hits 10 New Discoveries Offshore China
  9. Shell agrees to annually sell natural gas to PetroChina for 20 years
  10. CNOOC Joins Eni in South China Sea Exploration
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Category: China Oil Monitor