CNOOC, Newfield Sign PSC contracts

Thursday, August 16, 2007
China National Offshore Oil Company Limited (CNOOC Ltd) announced that its parent China National Offshore Oil Corporation (CNOOC) has signed two production sharing contracts (PSC) with US-based Newfield Exploration Company. The two contracts are for blocks numbered 22/15 and 16/05, both in the South China Sea.

Block 22/15 in the Beibu Gulf Basin in the western South China Sea covers 5,228 square km, with water depth of 10 to 60 meters. Newfield will reprocess the two-dimensional seismic data, a technical survey containing geological clues for hidden oilfields, and conduct drilling operations. Located in the Pearl River basin, block 16/05 covers 2,064 square km. CNOOC and Newfield had signed a geophysical survey agreement on this block in 2005, under which Newfield committed to exploration drilling. Under the contracts, all costs incurred during the exploration will be borne by Newfield. Source: Xinhua

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Mercury Diesel Engines for 16 New USCG Boats

Mercury Marine has entered an agreement with Metal Shark Aluminum Boats to power 16 U.S. Coast Guard (USCG) boats with Mercury diesel engines.   “Mercury Marine’s 2.

Masterbulk, SeaSafe Ink Lifeboat Service Deal

Masterbulk Singapore has entered into a five-year global sole service supplier agreement with the Wallem Group’s lifeboat maintenance service company, SeaSafe Marine.

Wärtsilä wins BWMS Order for 3 Vessels

Wärtsilä has received another important order for its Ballast Water Management Systems (BWMS). Three new container ships being built for a major European shipping

Shipbuilding

Star Clippers to Build Massive Square Rigger

Tall ship sailing specialist Star Clippers has announced that it has started building a fourth ship to add to its fleet of graceful square-riggers; its first new-build

Mercury Diesel Engines for 16 New USCG Boats

Mercury Marine has entered an agreement with Metal Shark Aluminum Boats to power 16 U.S. Coast Guard (USCG) boats with Mercury diesel engines.   “Mercury Marine’s 2.

HHI Launches Korea’s Second Minelayer

Shipbuilder Hyundai Heavy Industries (HHI) launched the second minelayer, MLS-II Nampo, for the Korean Navy.   In attendance at the MLS-II launching ceremony were Baek Seung-joo,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1278 sec (8 req/sec)