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Oil & Gas Industry: Eni signs a new contract with CNOOC for exploration in the South China Sea
Eni has signed a new Production Sharing Contract (‘PSC’) with CNOOC for the exploration of one block offshore Hainan island, in the South China Sea. The Block 50/34 covers an area of about 2,000 sq km in the Qiongdongnan Basin in conventional waters. The exploration period will last 6.5 years, subdivided in 3 phases.
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