CNOOC Seals Oil Exploration Deal with US Firm

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Friday, May 11, 2001, updated at 07:47(GMT+8)

Business

CNOOC Seals Oil Exploration Deal with US Firm

China National Offshore Oil Corporation (CNOOC) and US Sante Fe company will jointly explore oil at Block 27/10 near south China's Pearl River, under a contract signed Thursday.

Located at the mouth of Pearl River, the contract area covers 6,546 square kilometers. The exploration will last seven years within a contract term of 30 years.



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	China National Offshore Oil Corporation (CNOOC) and US Sante Fe company will jointly explore oil at Block 27/10 near south China's Pearl River, under a contract signed Thursday.




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