One-Page Deal Sheet
CNOOC Farms-Out to BP for Exploration of Deepwater Block
BP Plc CNOOC Limited
Announced Date
July 16,2013
Close Date
July 16,2013
Transaction Type
Farm-In/Farm Out
Asset/Basin:
{"Pearl River Mouth Basin"}
Location
Region
Asia - Pacific
Country
China
Transaction Details: Subscribe to see
CNOOC Limited announced today that its parent company, China National Offshore Oil Corporation (CNOOC) has signed production sharing contract (PSC) with BP for deepwater Block 54/11 in Pearl River Mouth Basin in the South China Sea. Block 54/11 is located in Pearl River Mouth Basin in the east part of the South China Sea. It covers a total area of 4,586 square kilometers with water depths of 370- 2,300 meters.
According to the terms of the contract, all expenditures incurred during the exploration period will be borne by BP. CNOOC has the right to participate in up to 51% working interest in…
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