On 24 December 2004, the joint group of China National Offshore Oil Corporation (CNOOC) , China HuanQiu Contracting & Engineering Corporation and Singapore Golden Aaron Pte Co. Ltd signed a production share contract of Block A4 and Block M10 offshore exploration with the Myanmar Oil and Gas Corporation under the Ministry of Energy in Yangon, capital of Myanmar. This is a following-up action taken by the joint group after the signing of an onshore exploration contract on Block M in October this year.

At present of the signing ceremony are Brig-Gen. Lun Thi, Minister of Energy, Maj-Gen Saw Lwin, Minister for Industry-2, U Thaung, Minister for Science and Technology from the Myanmar side and Ambassador Li Jinjun and Commercial Councilor Tang Hai of the Chinese Embassy.

Block A4 locates in Rakhine State of Myanmar and covers an area of 2889 square miles. Areas for exploration are offshore of Ramree Island and Cheduba Island. Block M10 locates in Mottama and covers 5320 square miles with the exploration area also on the offshore.

Energy Minister Brig-Gen. Lun Thi said that the Investment Committee of Myanmar also ratified another 3 blocks to CNOOC and the contract would be signed in January next year. Then adding the above-mentioned 3 blocks, the total areas for exploration will surpass that of Bohai Oil Field in China, which stands for a breakthrough of Chinese oil companies coming to Myanmar for the offshore and onshore oil joint exploration.