CNOOC Offers 10 New Blocks and 2 New Areas For Cooperation

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Last updated at: (Beijing Time) Tuesday, June 10, 2003

CNOOC Offers 10 New Blocks and 2 New Areas For Cooperation

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China National Offshore Oil Corporation (CNOOC) is offering 10 new exploration blocks to international oil and gas companies for Production Sharing Contract (PSC) exploration and two new areas for contracts for agreements, effective immediately.

The 10 new blocks offered cover a total area of 30,388 square kilometers. Six blocks are located in the East China Sea, three inthe Pearl River Mouth Basin of eastern South China Sea, and three in Beibuwan Basin of western South China Sea.

Also offered are two new areas in the south Yellow Sea Basin and the eastern Pearl River Mouth Basin for contracts or agreements.

The block ready for PSCs has seen some degree of exploration activity with promising structures identified and mapped out. The two areas offered for contracts or agreements are new exploration areas yet to undergo any material exploration.

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