BOHAI SEA STUDY SCHEDULED

China National Offshore Oil Corp. (Cnooc), BHP Petroleum (China) Inc., and Texaco Petroleum Mij. (Nederland) BV have signed a joint study agreement for a section of Bohai Sea off China. The agreement covers the Bo Nan area, about 10,000 sq km, and provides for BHP, as operator, and Texaco to reprocess seismic data and assess geophysical and geological data. The two firms have an exclusive option to sign an exploration contract with Cnooc if Bo Nan's resource potential is confirmed.

Jan. 14, 1991

China National Offshore Oil Corp. (Cnooc), BHP Petroleum (China) Inc., and Texaco Petroleum Mij. (Nederland) BV have signed a joint study agreement for a section of Bohai Sea off China.

The agreement covers the Bo Nan area, about 10,000 sq km, and provides for BHP, as operator, and Texaco to reprocess seismic data and assess geophysical and geological data. The two firms have an exclusive option to sign an exploration contract with Cnooc if Bo Nan's resource potential is confirmed.

In addition, Texaco will operate the adjoining Bo Dong joint study area of about 9,000 sq km with BHP as equal partner.