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CNOOC In Deals With 9 Oil Companies Incl. Chevron, ConocoPhillips, Shell, TOTAL

Oil and gas exploration and production company CNOOC Limited (CEO, CNU.TO) announced Tuesday that its parent company, China National Offshore Oil Corp. or CNOOC has signed Strategic Cooperation Agreements with 9 international oil companies including: Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation and TOTAL.

According to the agreements, the Strategic Cooperation Areas are located in the Pearl River Mouth Basin offshore China, including Area A and Area B, excluding existing mining license areas and the contract areas.

Area A is approximately 15,300 square kilometers, with a water depth of 80-120 meters and only open for the deep layers below Enping Formation of Paleogene. Area B is approximately 48,700 square kilometers, with a water depth of 500-3,000 meters and open for all the layers.

The agreements will facilitate the establishment of a long term and stable cooperation and share the development opportunities to a certain extent in the Strategic Cooperation Areas, creating conditions for the final signing of contracts.

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