BP Near to Signing Exploration Deal With CNOOC, Sky Reports
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BP Plc is close to signing a “major” exploration agreement with state-owned China National Offshore Oil Corp., Sky News’s Mark Kleinman reported, citing unidentified people.
BP and CNOOC would jointly explore in the South China Sea, Kleinman wrote on his blog today. The two companies have previously worked together in that body of water, he said. BP aims to complete the negotiations before U.K. Prime Minister David Cameron visits China in the coming week, Kleinman said.