Gabon: CNOOC joins Shell on two offshore blocks

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

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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