CNOOC Inks Oil Field Services JV With Petroleum Brunei

Law360, New York (October 15, 2013, 7:19 PM EDT) -- China National Offshore Oil Corp. said Monday that it had inked an agreement with state-owned Brunei National Petroleum Co., also known as Petroleum Brunei, to set up a joint venture for oil field services in an effort to capitalize on the tiny southeast Asian nation's offshore oil and gas reserves.

CNOOC, which is owned by the Chinese government, said the companies had signed the deal during Chinese Premier Li Keqiang's visit to Brunei last week. Terms of the deal weren't disclosed.

"The governments on both sides...
To view the full article, register now.