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    CNOOC and SINOPEC deal on Xihu Trough

    News // June 29, 2001
    CNOOC Limited has announced that China National Offshore Oil Corporation (CNOOC), its parent, and China Petroleum and Chemical Corporation (Sinopec) reached agreement on 18 June to jointly develop natural gas in the XihuTrough of East China Sea.

    The Xihu Trough is in East China Sea sedimentary basin, about 400km east of Shanghai. Sinopec drilled exploration wells in the area where it holds majority interest through one of its subsidiaries. Natural gas reserves of commercial size were found there.

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