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Shell in exploration deal with China state oil firms
July 25, 2012 / 10:24 AM / 5 years ago

Shell in exploration deal with China state oil firms

LONDON, July 25 (Reuters) - Oil major Royal Dutch Shell said it signed a number of new agreements with two Chinese state-run oil companies to look for oil and develop gas in China, and also to explore in Gabon.

Shell said it agreed a deal with China’s CNOOC to explore for oil in the offshore Yinggehai basin and also amended a production sharing contract with the country’s biggest oil producer CNPC for the Changbei onshore gas field.

“We are delighted about the return to offshore exploration in China and the opportunity to work with CNOOC again on a major project in the country,” Lim Haw-Kuang, executive chairman of Shell Companies in China said in a statement on Wednesday.

The oil major will also partner with CNOOC in Gabon to look for oil off the coast of the west African country. (Reporting by Sarah Young; Editing by Neil Maidment)

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