ConocoPhillips, PetroChina Strike Energy Development Pacts

Law360, Los Angeles (February 20, 2013, 7:18 PM EST) -- ConocoPhillips has entered agreements giving PetroChina Co. Ltd. a stake in two Western Australia exploration sites and implementing a joint study agreement for unconventional resource development in the Sichuan Basin in China, ConocoPhillips said Wednesday.

The deals, which still require government and partner approval, will give PetroChina a working interest of 20 percent in the Poseidon offshore discovery in the Browse Basin and a working interest of 29 percent in the Goldwyer Shale in the onshore Canning Basin. ConocoPhillips will also enter the joint study agreement...
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