Continuing China's march into Africa, a subsidiary of leading Chinese oil and gas producer China National Offshore Oil Company Ltd. (CNOOC) has signed a production-sharing contract for an offshore block in Equatorial Guinea.Equatorial Guinea is the third biggest producer of crude oil in sub-Sahara Africa. American companies have previously developed its oil resources.
CNOOC vice president Zhu Mingcai, said the deal is another sign of progress in the company's expansion of overseas operations
