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Gabon: CNOOC joins Shell on two offshore blocks

China National Offshore Oil Corp. will participate with Shell Gabon in two exploratory blocks offshore Gabon.

CNOOC will acquire a 25% participating interest in the BC9 and BCD10 blocks. CNOOC will reimburse Shell for 25% of certain past exploration costs and carry part of the future exploration costs. Shell will remain operator with 75% interest. The agreement is subject to government approval.

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