China, Singapore In Large Offshore Deals

China National Offshore Oil Co. and two other companies had jointly signed two new production-sharing contracts to explore offshore oil and natural gas fields in Myanmar.

CNOOC, China Huanqiu Contracting and Engineering Corp. and Singapore?s Golden Aaron Pte. Ltd. had signed contracts with Myanmar Oil & Gas Enterprise to explore two fields in the Southeast Asian country.

Under the agreements, oil and gas exploration will be carried out at a 10,000-sqkm field in Rakhine state and a 15,530-sqkm field in southern Tanintharyi.