President of Unocal's China operation Chris Costelloe said on May 28 that his company will soon sign a cooperation agreement with Shell and two Chinese oil giants for joint exploration and development of Xihu Depression gas field on East China Sea, about 400 kilometers from Shanghai.Unocal is a US-based oil and gas developer. This project is planned to supply natural gas to Shanghai and its surrounding areas in 2004. The company is now focusing efforts on involvement in exploration and development Chunxiao gas field, one of the gas fields in the area.
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