China National Offshore Oil Corporation (CNOOC) has signed strategic cooperation agreements for oil and gas exploration offshore China with nine international companies including oil majors Chevron, ConocoPhillips, Shell, Total, and Equinor. CNOOC and the nine companies—Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation, and Total—will share development opportunities in strategic cooperation areas located in the Pearl River Mouth Basin offshore China, CNOOC’s exploration and production company CNOOC Limited said in a statement on Tuesday. “The agreements will facilitate the establishment of a long term and stable cooperation and share the development opportunities to a certain extent in the Strategic Cooperation Areas, creating conditions for the final signing of contracts,” CNOOC said. Chinese companies are trying to tap more resources at home to replace dwindling production at mature oil and gas fields while China’s oil and gas demand continues to grow. Earlier this year, China National Petroleum Corporation […]