China National Petroleum shelf Company (CNOOC) has active negotiations to obtain the percentage of active participation in oil exploration block 43/11 in the South China Sea, where the U.S. company Andarko.This is quite unprecedented for the Chinese practice. Earlier, CNOOC, which has a monopoly on deep water oil fields, usually after the positive results of exploration and the beginning of commercial exploitation began to claim 51% of th share in the project transferred to a foreign partner. There is also a Chinese company intends to engage in a further stage of exploration, thus sharing the risks. This, according to observers, reflects the confidence in the presence of the deposit of substantial oil reserves, but also due to the desire of companies to optimize their holdings. According to the Bank of Credit Suisse peak production for the company CNOOC will be in 2010, reports Dow Jones Newswirwes.
