CNOOC inks strategic deals with 12 foreign enterprises on oil and gas cooperation

China National Offshore Oil Corporation (CNOOC), the largest offshore oil and gas producer in China, recently signed strategic agreements at one time with 12 foreign enterprises for further cooperation in the whole field of oil and gas industry at home and abroad, involving total contracted value of 13 billion U.S. dollars, reported Chinanews.com Tuesday.

These cooperative deals include four agreements with Total Energies, Conoco Phillips, Smart Oil Investment and Roc Oil, who are expected to team up with CNOOC to conduct oil and gas exploration and development in China's offshore waters. Agreements between CNOOC and its partners in U.S., Kuwait and Iraq have also been signed to secure liquified natural gas (LNG) and crude oil supply to Chinese market.

Since its establishment in 1982, CNOOC has signed 228 foreign cooperation contracts with 81 international oil enterprises from 21 countries and regions, with a total foreign investment of over 250 billion yuan.

According to Wang Dongjin, Chairman of CNOOC's board of directors, the company will continue to deepen international cooperation in the upstream oil and gas field, and further increase the acquisition of overseas high-quality oil and gas resources while cooperating in the development of China's offshore oil and gas resources.