CNOOC and Gorgon sign LNG Deal

CNOOC Limited has announced it has signed an agreement with the Gorgon Venture Participants that is expected to lead to one of the biggest LNG deals in the industry’s history. The agreement calls for the parties to place a significant volume of Gorgon LNG for use in the growing Chinese market. Subject to the completion of formal contracts, CNOOC Limited will purchase a certain equity stake in the Gorgon gas development, and its parent, China National Offshore Oil Corporation (CNOOC), will arrange to purchase certain volume of LNG directly from Gorgon. CONTACT (CNOOC): Xiao Zongwei, +86-10-8452-1646, fax +86-10-8452-1441

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