One-Page Deal Sheet
CNOOC Signs Production Sharing Contract with Shell
CNOOC Limited Shell plc
Announced Date
July 25,2012
Close Date
July 25,2012
Transaction Type
Property
Location
Region
Asia
Country
China
Transaction Details: Subscribe to see
CNOOC Limited (the "Company", NYSE: CEO, SEHK: 00883) announced today that its parent company, China National Offshore Oil Corporation (CNOOC) has signed production sharing contracts (PSCs) with Shell China Exploration and Production Company Limited (Shell) for Blocks 62/02 and 62/17 in Yinggehai.
According to the terms of the contract, Shell will conduct 3D seismic data survey and drill exploration wells in the two blocksduring the exploration period, in which all expenditures incurred will be borne by Shell. CNOOC has the right to participate in up to 51% working interest in any commercial…
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