China National Offshore Oil Corporation (CNOOC) has signed strategic cooperation agreements with nine international firms for two offshore areas in the Pearl River Mouth Basin off China. State-owned CNOOC said the agreements—which include Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation, and Total—are a first step in establishing what could be long-term cooperation on exploration and development of offshore Areas A and B. Each international firm has existing upstream operations in China. The 15,300-sq-km Area A lies in 80–120 m of water. Firms are open to explore its deep layers below the Paleogene Enping formation. The 48,700-sq-km Area B lies in 500–3,000 m of water.