PetroChina has gained drilling rights off Qatar's shore while Shell is building ties with CNOOC.
Chinese oil majors have been increasing their international influence recently. Both CNOOC and CNPC, parent of PetroChina, have partnered with global oil major Shell to explore and operate fields in the South China seas.
CNOOC and Shell have signed two partnership agreements, one for oil and gas exploration in the Yinggehai basin and one to search for hydrocarbons off the coast of Gabon. “These new projects in partnership with Chinese companies are the latest showcase of our China strategy”, remarks Lim Haw-Kuang, Executive Chairman of Shell companies in China. He added they are key to helping “meet the country's energy needs to fuel its fast growing economy.”
Shell has also partnered with CNOOC's state-owned rival, CNPC, to develop a shale gas block in Changbei, making it one of only a handful of foreign oil firms to operate onshore gas fields in China.
PetroChina is also expanding its international influence, having signed a deal for a 40% stake in drilling rights to an offshore energy exploration zone in Qatar. The company will have access to an area know as Block 4, a 2,500 square kilometre zone adjacent to Qatar's gas-rich North Field. PetroChina is acquiring the stake from France's GDF Suez, which will retain the remaining 60% stake in the block.