CNOOC Buys Stake in South China Sea Block From US-Based Devon

摘要

China National Offshore Oil Corp. (CNOOC) has agreed to buy US independent Devon Energy’s 24.5% interest in a block in the South China Sea for $515 million. CNOOC is already operator of Block 15/34, which is located in the Pearl River Mouth Basin about 200 kilometers (120 miles) south of Hong Kong in water depths of 100 meters (330 feet).