	china closes second round of offshore oil bids china has closed the second round of bidding by foreign firms for offshore oil exploration rights the china daily has reported it quoted a spokesman for the china national offshore oil corp cnooc as saying china signed eight contracts with foreign firms for blocks in the pearl river mouth and south yellow sea covering a total area of sq km second round bidding began at the end of and only one well has so far produced results lufeng km south east of shenzhen with an output of barrels a day the well was drilled by a group of japanese companies the spokesman added cnooc was ready to enter into contracts for offshore blocks before third round bidding began he did not say when this would be but added the contracts would not be bound by restrictions imposed during the second round china has signed oil contracts and agreements with companies from countries since when offshore exploration was open to foreigners eleven contracts were terminated after no oil was discovered foreign firms have invested billion dlrs on offshore china since reuter 
