HONG KONG: CNOOC Ltd, China's largest offshore oil producer, has signed a deal to spend 9.93 billion yuan (US$1.56 billion) to explore for coalbed methane (CBM) in China over the next five years as part of a 30year agreement.
A deal on the project was signed between CNOOC Ltd and China United Coalbed Methane Corporation Ltd, which is half owned by CNOOC Ltd's parent, China National Offshore Oil Corporation (CNOOC Group), and half owned by China National Coal Group Corp, CNOOC said in a filing with the Hong Kong bourse.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
