CNOOC sets out its plans for Pearl River
China National Offshore Oil Corp, the country's largest offshore oil and gas producer, will join efforts with nine foreign oil giants to conduct exploration in the Pearl River Mouth Basin, Guangdong province.
The State-owned company announced on Tuesday it has signed a strategic agreement with partners including British-Dutch oil and gas firm Royal Dutch Shell Plc, US Chevron Corp, US ConocoPhillips, French Total SA, Norwegian Equinor ASA, Canadian Husky Energy Inc and Australian Roc Oil Co.
According to CNOOC, exploration will take place in Block A and B in the Pearl River Mouth Basin. Block A covers an area of 15,300 square meters and is in water depths of 80 to 120 meters. Block B has an area of 48,700 square meters with water depth ranging from 500 meters to 3,000 meters.
