(EnergyAsia, January 21 2013, Monday) — US major Chevron Corp said it has signed agreements for two production sharing contracts with Chinese offshore oil company CNOOC Ltd to explore two blocks in the South China Sea.
Their joint-venture company, Chevron China Energy Co, will have full contract ownership of blocks 15/10 and 15/28 in the Pearl River Mouth Basin, and will operate the two shallow water blocks covering an area totalling 5,782 square km.
“Exploration of these blocks builds on our strategy to grow our business across the Asia Pacific region, where we are developing LNG, deepwater, shale and sour gas resources,” said George Kirkland, Chevron’s vice chairman, Chevron.
Melody Meyer, President of Chevron Asia Pacific Exploration and Production, said:
“We welcome the opportunity to partner with CNOOC and apply our industry-leading exploration capabilities in the prospective Pearl River Mouth Basin.”