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(The Chengbei oilfield in the western Bohai Sea covered a small area of 24 km2.)The issue of contractual format did not arise with regard to Chengbei because there was no risk in developing a previously verified oilfield.
1986, Shengzhen Zhao, “Energy and Society”, in Stephen E. Guisinger, editor, The United States and China: A New Era in Economic Relations, Auburn House Publishing Company, →ISBN, →LCCN, →OCLC, page 23:
The Chengbei oil field contains reserves adequate to produce at a peak rate of 10,000 barrels per day.
1990, Alfred K. Ho, Joint Ventures in the People's Republic of China: Can Capitalism and Communism Coexist?, Praeger, →ISBN, →LCCN, →OCLC, page 61:
In February 1980 another agreement was signed between the two countries for the development of the Chengbei oil field in the western Bohai Gulf where the Chinese had done earlier exploration work.