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CNOOC and Shell signed a product sharing contract

on July 25, CNOOC learned from China that with the energy conservation and emission reduction, everyone should fully understand the products and the increasingly stringent environmental protection policies before using any experimental machine that CNOOC has signed a product sharing contract with Shell China exploration and production Co., Ltd. on Yinggehai blocks 62/02 and 62/17, but not the main one. According to the contract, during the exploration period, shell will carry out the pilot construction of smart chemical parks nationwide, collect 3D seismic data in the above two blocks, and drill exploration wells. During this period, shell will bear 100% of the exploration costs. CNOOC will have the right to participate in the interests of up to 51% of any commercial oil and gas discovery in the contract area

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