China National Offshore Oil Company Limited (CNOOC) announced Saturday that its subsidiary, CNOOC Africa Limited, has signed production sharing contracts for six exploration blocks in Kenya.
The six contracts cover blocks named Block 1, Block 9, Block10A, L2, L3, and L4 in Kenya. The blocks are located in three basins of the country with 115,343 square km.
The signing of the six contracts indicates the CNOOC Ltd. has successfully extended its overseas exploration activities to eastern Africa, said Zhu Mingcai, vice president of CNOOC Ltd. and general manager of CNOOC International Ltd.
The vast area has attractive untapped exploration potential, although it is not yet a mature oil and gas producing area, he said, adding that the exploration period of the contracts will be divided into three phases.
Incorporated in Hong Kong in August 1999, CNOOC Ltd. is a subsidiary of China National Offshore Oil Corporation (CNOOC), China's largest offshore oil and gas producer.
(Xinhua News Agency April 30, 2006)
