Liming Chen, President BP China, said: “This builds on our South China Sea presence creating a strong base for future exploration success for China and for BP.”
CNOOC will be operator of 54/11; terms of the production sharing agreement were not disclosed.
BP was awarded acreage in deepwater blocks 42/05 and 43/11 in 2010 and 2011 respectively; both are in the exploration period.
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