PetroChina has signed with CNOOC for rights to blocks 23/29 (980 sq km in WD 0-85m) + 24/11 (464 sq km in WD 20-40m) in the Fushan and Leidong sags, Beibu Gulf Basin, South China Sea. PetroChina will operate with 70% during the explo phase. A 50:50 JOA will apply in the event of devt.
CNOOC (30%) has signed a PSC with PetroChina (70%) for 23/29 and 24/11 blocks, situated in the Fushan and Leidong sag areas.