One-Page Deal Sheet
Chevron Enters Production Sharing Agreement With CNOOC in South China Sea
Chevron Corp CNOOC Limited
Announced Date
January 16,2013
Close Date
January 16,2013
Transaction Type
JV
Asset/Basin:
{"Pearl River Mouth Basin"}
TargetZones:
{"Xijiang Sag","Pear
Location
Region
Asia - Pacific
Country
China
Transaction Details: Subscribe to see
Chevron Corporation announced today that its China subsidiary has entered into production sharing contracts (PSC) with China National Offshore Oil Corporation (CNOOC) for two exploration blocks in the South China Sea's Pearl River Mouth Basin. Under the PSC agreements, Chevron China Energy Company will hold a 100 percent interest in blocks 15/10 and 15/28 in the Pearl River Mouth Basin. During the exploration phase Chevron China Energy Company will be the operator of the two shallow water blocks, which in total cover an area of approximately 2,233 square miles (5,782 square km).
"Exploration…
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