PetroChina, ConocoPhillips Ink Cooperation Deals

Contract signing

PetroChina said it has entered into a set of agreements with ConocoPhillips in Beijing.

Under these agreements, PetroChina will acquire 20% interest in the Poseidon offshore discovery in the Browse Basin, and 29% interest in the Goldwyer Shale onshore Canning Basin, both in Western Australia. In addition, PetroChina and ConocoPhillips will enter into a Joint Study Agreement to study unconventional gas resource in the Neijiang-Dazu Block in China’s Sichuan Basin. The agreements still require government and partner approvals.

The signing of these agreements marks a significant step toward increased global collaboration between PetroChina and ConocoPhillips. For PetroChina, this is also an important movement to continue improving the offshore LNG and onshore unconventional oil and gas developments in Western Australia,” PetroChina said in a statement.


LNG World News Staff, February 21, 2013; Image: iStock