Chevron Acquires New Offshore China Acreage From CNOOC

Law360, New York (January 16, 2013, 1:19 PM EST) -- California-based global energy giant Chevron Corp. has acquired new acreage in the South China Sea, entering into production sharing contracts with state-owned China National Offshore Oil Corp. for two shallow-water blocks, Chevron announced Wednesday.

Chevron's Chinese subsidiary, Chevron China Energy Co., will hold a 100 percent working interest in two blocks in the Pearl River Mouth Basin, a shallow-water basin in the South China Sea off China's southeast coast. The two blocks, known as blocks 15/10 and 15/28, have combined offshore acreage of roughly 2,200 square...
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