China National Offshore Oil Corporation (CNOOC) signed an agreement with the Fujian provincial government on June 23 to jointly invest $3.4 billion to develop an industrial park in Xi'nan Peninsula.The industrial park, which will contain oil reservoirs, LNG terminals and plants for the production of metallurgical products and machinery, is planned to cover 20 km2 by 2015 and more than 40 km2 by 2020.
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