CNOOC Limited announced that its subsidiary, CNOOC Africa Limited has singed a production sharing contract (PSC) for block S with the Ministry of Mines, Industry and Energy, and The National Oil Company of Equatorial Guinea. Block S covers a total area of approximately 2,287 square kilometers in the south offshore Equatorial Guinea. Water depth of the block ranges from 30 to 1500 meters.
The exploration period of the contract is 5 years and CNOOC Ltd. acts as the technical operator. Under the terms of the contract, the company is committed to conduct seismic data interpretation and drilling exploration wells.
