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.

People's Daily Online ---