CNOOC Unit, CPC To Decide Fate Of Gas Exploration Venture

Law360, New York (May 11, 2012, 8:28 PM EDT) -- A subsidiary of China National Offshore Oil Corp. and Taiwan's state-owned CPC Corp. reportedly announced Friday that they will decide this fall whether to continue a so far unsuccessful gas exploration joint venture in the Taiwan Strait.

Refiner CPC said the companies are looking at their options, after having failed to locate a sizable gas reserve in their near decade of exploration of the Tainan Basin and Chaozhou Shantou Basin in the southern end of the Taiwan Strait, according to Dow Jones Newswires.

By September, the...
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