The $200 million acquisition will allow Sinochem to produce 4000 barrels per day from the shallow-water block, according to sources familiar with the pending deal.
If concluded, it will be the second farm-out deal on the block and would give Sinochem, China's largest chemical products trading house, its first domestic upstream asset.
In July, Australia's Roc Oil acquired Apache Corporation's 24.5% operated interest in Zhaodong, which covers 27.5