Sydney-based Roc has inked the two production sharing contracts covering blocks 16/07 and 03/33 in the Pearly River Mouth basin, CNOOC Ltd, an offshoot of CNOOC, said on Wednesday.
Roc will become operator during the exploration period on the blocks, for which it will also bear all costs.
During any development phase, CNOOC has the right to participate up to 51% in any commercial discoveries.
Block
