<%@LANGUAGE="VBSCRIPT" CODEPAGE="1252"%> WorldTribune.com: Mobile Ñ China, Qatar sign 25-year oil/gas agreement

China, Qatar sign 25-year oil/gas agreement

Wednesday, September 2, 2009   E-Mail this story   Free Headline Alerts

ABU DHABI Ñ China and Qatar have signed an agreement for oil and gas exploration in the Gulf.

The state-owned Qatar Petroleum signed an exploration and production sharing accord with a subsidiary of China Offshore Oil Corp.

Under the 25-year deal, signed on Aug. 31, QP and CNOOC Middle East would search for crude oil and natural gas off the coast of Qatar. Qatar has been deemed the largest supplier of liquefied natural gas to China.

CNOOC said it has allocated $100 million to drill three wells in Qatari waters. Executives said the program would include technical studies, seismic tests and drilling at Qatar's Block BC.

Block BC was said to comprise 5,469 square kilometers off the eastern coast of Qatar. QP plans to sign additional exploration agreements in 2010.

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