China, Taiwan sign deals to boost oil exploration

China National Offshore Oil Corp and Taiwan’s CPC Corp signed four agreements on Friday to boost cooperation in exploration, including the transfer of equity in an oilfield in Kenya, the official Xinhua news agency said.

China’s top offshore oil firm agreed to transfer a 30 percent stake in onshore Block 9 in Kenya to Taiwan’s state-run CPC, Xinhua said, without providing more detail.
The agreements included a letter of intent for closer cooperation, a revised deal on joint exploration in the Tainan Basin of the Taiwan Strait and the Chaozhou Shantou Basin off China’s Guangdong coast, and a joint study on the Wuqiuyu Basin off China’s Fujian coast.

Reuters