Chevron Corp said it entered into production-sharing contracts with Chinese offshore oil company CNOOC Ltd for two exploration blocks in South China Sea as the US oil company looks to grow in the Asia-Pacific region.
Chevron China Energy Co will hold a 100 per cent interest in blocks 15/10 and 15/28 in the Pearl River Mouth Basin. The unit will operate the two shallow water blocks, which in total cover an area of about 2,233 square miles (5,782 square km).
Chevron China Energy Co will hold a 100 per cent interest in blocks 15/10 and 15/28 in the Pearl River Mouth Basin. The unit will operate the two shallow water blocks, which in total cover an area of about 2,233 square miles (5,782 square km).