Hong Kong-based CNOOC Ltd. announced Dec. 18 that its parent company, China National Offshore Oil Corp., signed cooperation agreements with nine international oil companies regarding development opportunities offshore China.

The companies are Chevron Corp., ConocoPhillips, Equinor, Husky Energy Inc., KUFPEC, Roc Oil, Royal Dutch Shell PLC, SK Innovation Co. Ltd. and TOTAL SA. The cooperation areas are located in the Pearl River Mouth Basin offshore China and include Areas A and B.

The agreements pave the way for long term cooperation and development opportunities, which creates conditions for the final signing of contracts, CNOOC said.