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CNOOC signs oil agreements with Taiwan's CPC Corp

(Xinhua)
Updated: 2008-12-26 22:06

BEIJING -- China National Offshore Oil Corp. (CNOOC), mainland's largest offshore explorer, signed four cooperation agreements with Taiwan's CPC Corp Friday.

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The four cooperation agreements were signed by CNOOC's Chairman and CEO Fu Chengyu and Chairman of CPC Corp. Wenent Pan, who was visiting Beijing.

The agreements included a letter of intent for closer cooperation, a revised contract on joint exploration in the Tainan Basin of the Taiwan Strait and the Chaozhou Shantou Basin off mainland's Guangdong coast, joint study on the Wuqiuyu Basin off mainland Fujian coast, and transfer of a 30 percent stake of CNOOC's onshore Block 9 in Kenya to CPC.

Fu Chengyu said CNOOC has established good cooperation with CPC Corp. in 1994 when the two companies started cooperation.

CPC Corp., based in Taipei, is a fully integrated oil and gas company with about 15,000 employees.