Newfield Exploration Co., Houston, (NYSE: NFX) has signed a production sharing contract for Block 17/08 in the Pearl River Mouth Basin of the South China Sea with the Chinese National Offshore Oil Corp. (CNOOC). The block covers approximately 1.8 million acres. Newfield will have a 100% working interest in the block during the exploration phase. CNOOC reserves the right to back-in to any development with a 51% interest. Newfield is committed to drill wildcat wells during the exploration period, with the first well to be drilled during the next three years. In addition, Newfield signed a geophysical survey agreement on adjacent Block 16/05, which covers approximately 510,000 acres. The company also will have a 100% interest in this block, prior to any back-in by CNOOC.