Home>>Business
Last updated at: (Beijing Time) Wednesday, November 21, 2001

New Offshore Oilfield in Operation in North China

A new offshore oilfield in Liaoning Province with an annual capacity of 5.5 million tons, has gone into operation in the Bohai Gulf in north China. It is reported the largest of its kind ever found and developed by a Chinese company independently.


PRINT IT DISCUSS IT CHINESE SEND TO FRIENDS


A new offshore oilfield with an annual capacity of 5.5 million tons, one of the largest in China, has gone into operation in the Bohai Gulf in north China.

The Sunzhong 36-1 Oilfield, about 46 kilometers off the coast of Suizhong County, Liaoning Province, was located in October 1998 with a proven reserve of nearly 300 million tons, said Zhou Shouwei, deputy president of the China National Offshore Oil Co. Ltd. (CNOOC), the developer of the oilfield.

In fact, the oilfield is the largest of its kind ever found and developed by a Chinese company independently.

The operation of the oilfield shows that CNOOC is now in full possession of the management and operation capacity required for an international oil company, said Zhou.



China National Offshore Oil Corp.

China National Offshore Oil Corp. (CNOOC) is a State oil company incorporated on February 15,1982, with approval from State Council. Fully authorized by the "regulations of the People's Republic China on Exploitation Offshore Petroleum Resources in Cooperation with Foreign Enterprises" which was promulgated by the State Council, CNOOC is assumed with the overall responsibilities for the exploitation of offshore petroleum and natural gas resources in the People's Republic of China in cooperation with foreign enterprises

Sources from: http://www.cnooc.com.cn/english/companyoverview/index.html
    Advanced

Phillips China Inc. to Invest US$ 2 Billion for Penglai Offshore Oilfield

Work Starts on China's Largest Offshore Oilfield