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23

CNOOC To Explore in Somalia

CNOOC met with Somali government officials last month to firm up details of its survey program

China's state-owned CNOOC has been granted exploration rights by Somalia's interim government, the Financial Times reported.

CNOOC met with Somali government officials last month to firm up details of its survey program, which is due to begin in September.

CNOOC's rights cover northern Somalia's Mudug region, following a production-sharing agreement signed in May 2006, which sets aside 51 pct of potential revenue for the transitional government.