Cnooc - $29b S China Sea Exploration

Tuesday, November 25, 2008

According to a Nov. 24 Bloomberg report, Cnooc Ltd. and its partners may spend about $29b to develop fuel deposits in the South China Sea in the nation's biggest push to tap reserves off the coast. The investments between next year and 2020 include an estimated $2.2b by parent China National Offshore Oil Corp. to build deepwater drilling equipment.

(Source: Bloomberg)

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