China, Taiwan sign four oil cooperation deals

The deals were signed by CNOOC Chairman and CEO Fu Chengyu and CPC Chairman Wenent Pan, according to the official Xinhua News Agency.

The agreements included a letter of intent for closer cooperation, a revised contract on joint exploration in the Tainan Basin off the Taiwan Strait and the Chaozhou Shantou Basin off the southern Guangdong coast, a joint study on the Wuqiuyu Basin, and a ransfer of a 30 percent stake of CNOOC's onshore Block 9 in Kenya to CPC.

Fu said CNOOC has established good rapport with CPC Corp. since 1994 when the two companies started cooperation.

CPC Corp., based in Taipei, is a government-owned oil refiner.

The deal appeared to be the latest sign of warming relations between the longtime rivals.

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