CNOOC (CEO) Enters PSC with Eni for Deepwater Block 30/27
Tweet Send to a Friend
Up)
CNOOC Limited (NYSE: CEO) reports its parent company, China National Offshore Oil Corporation (CNOOC) has signed a production sharing contract (PSC) with Eni China B.V. (Eni) for the deepwater Block 30/27 in South China Sea.
Block 30/27, located 400 kilometers off the coast of Hong Kong with a total area of 5,130 square kilometers, is one of the blocks CNOOC offered for foreign cooperation in 2011.
According to the terms of the contract, Eni will conduct 3D seismic survey and drill one exploration well in Block 30/27. All expenditures incurred during the exploration period will be borne by Eni. CNOOC Limited has the right to participate in up to 51% working interest in any commercial discoveries in the block.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Block 30/27, located 400 kilometers off the coast of Hong Kong with a total area of 5,130 square kilometers, is one of the blocks CNOOC offered for foreign cooperation in 2011.
According to the terms of the contract, Eni will conduct 3D seismic survey and drill one exploration well in Block 30/27. All expenditures incurred during the exploration period will be borne by Eni. CNOOC Limited has the right to participate in up to 51% working interest in any commercial discoveries in the block.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Senate Takes Aim at Apple (AAPL); Says Irish Unit Earned $22B, Paid $10M in Taxes
- Canadian Solar (CSIQ) Continues Higher Following Arbitration Win Over LDK (LDK)
- Herbalife (HLF) Hires PricewaterhouseCoopers as New Auditor
Create E-mail Alert Related Categories
Corporate News
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
