CNOOC Limited announced today in a statement that its parent company,China National Offshore Oil Corporation (CNOOC), will join hands again with Husky Oil China Limited in exploring deepwater areas Offshore China. A Production Sharing Contract (PSC) has been inked by both partoes for Block 29/06 in Eastern South China Sea. This is the eighth deepwater contract CNOOC has signed. CNOOC has also signed PSCs with Husky for Blocks 25/18 and 50/14 in Western South China Sea. While Block 29/06 covers a total area of 9265 square kilometers in the ZhuIISag of Pearl River Mouth Basin, Blocks 35/18 and 50/14 are located in East Slope of Yinggehai Basin, covering 4496 and 3137 square kilometers respectively. CNOOC Limited has the right to participate in up to 51 percent working interests in any commercial discoveries in the above three blocks.