The deal, which requires approval from the Nigerian and Chinese governments, covers an offshore oil license in the oil-rich Niger Delta region, CNOOC said. The area includes one oil field discovered in 2000 and three other "significant discoveries," it said. The deal adds to a string of recent multibillion-dollar foreign deals by Chinese oil companies, which are competing aggressively for access to sources of oil and gas to fuel China's booming economy. Another contender for the Nigerian field was India's biggest oil company, state-owned Oil & Natural Gas Corp., which submitted a winning $2 billion bid last month. But the Indian Cabinet blocked that deal, contending it wasn't commercially viable. Hong Kong-based CNOOC offered $18.5 billion last year for California-based Unocal, but withdrew its bid in August after fierce opposition from U.S. politicians who claimed the purchase could threaten national security. CNOOC's withdrawal allowed Chevron Ltd. to buy Unocal in a stock and cash deal valued at about $18 billion. CNOOC's parent company, the China National Offshore Oil Corp., is 70-percent owned by the Chinese government. PIN/AP