CNOOC signs natural gas sales agreement in Indonesia

China National Offshore Oil Corporation (CNOOC) Limited announced recently that the Indonesian Offshore Southeast Sumatra Production Sharing Contract (PSC), in which it has a 65.3% interest and acts as the operator, recently signed a natural gas sales agreement with P.T. Perusahaan Listrik Negara (Persero) - the national electric power company of Indonesia. According to the agreement the Offshore Southeast Sumatra PSC would supply 80 billion BTU of natural gas each day from 2006 to 2018.

The project is the first gas supply business for the Offshore Southeast Sumatra PSC. It paved the way for effectively using the natural gas resources in the region.

By People's Daily Online