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Chevron and CNOOC to share production contracts

US energy giant, Chevron, has won contracts for two exploration blocks in the South China Seas.

America’s second-largest oil company has revealed that its China subsidiary will explore two blocks in the Pearl River Mouth Basin with Chinese major CNOOC (China National Offshore Oil Corporation). According to the agreement, Chevron China Energy Company will hold a 100% interest in blocks 15/10 and 15/28, which jointly cover an area of around 2,333 square miles (5,782 km2).

George Kirkland, vice chairman of Chevron, hopes the project will strengthen the company’s ties in the region. “Exploration of these blocks builds on our strategy to grow our business across the Asia Pacific region”, said Kirkland, “where we are developing LNG, deepwater, shale and sour gas resources.”

Tags: Chevron, China, China lubes news, CNOOC, Lubes news

Published 23rd January, 2013

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