CNOOC and Eni Collaborate in South China Sea

Press Release
Wednesday, April 11, 2012

Hong Kong - CNOOC Limited announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed a production-sharing contract (PSC) with Eni China B.V. (Eni) for the deepwater Block 30/27 in South China Sea.

Block 30/27, located 400 kilometers off the coast of Hong Kong with a total area of 5,130 square kilometers, is one of the blocks CNOOC offered for foreign cooperation in 2011.

According to the terms of the contract, Eni will conduct a 3D seismic survey and drill one exploration well in Block 30/27. All expenditures incurred during the exploration period will be borne by Eni. CNOOC Limited has the right to participate in up to a 51 percent working interest in any commercial discoveries in the block.

“Oil and gas resources are rich in the deepwater South China Sea and are one of the main sources for the Company’s medium- and long-term development,” said Zhu Weilin, Executive Vice President of the Company and General Manager of Exploration Department. “By joining hands with Eni again, we expect great success on the project.”

Eni also has equity interest in Blocks 16/08 and 16/19, located in the South China Sea, and is the Operator in Block 28/20.
 

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

Contracts

DMW Marine Takes the Lead in Military Cranes

DMW Marine Group, LLC. has completed a number of projects for the U.S. Navy and foreign Navies in recent years, claiming a place as a go-to supplier for Navy departments globally.

Shipping Freight Rates Drop Amidst Overcapacity

Shipping freight rates on the world's busiest route, from Asia to Northern Europe, fell by the largest percentage amount since 2008, reflecting wild volatility

Two ASC Kalmar Cranes for DP World Brisbane

Kalmar, part of Cargotec, has received an order from DP World Australia to deliver two new Kalmar automatic stacking cranes (ASCs) for its semi-automated terminal in Brisbane.

Offshore

US Oil Platform on Fire in Gulf Of Mexico

An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.

IMO Adopts Polar Code Environmental Provisions

United Nations' International Maritime Organization (IMO) has adopted the environmental part of the Polar Code. Hereby, internationally binding regulations on

Two Hurt in Petrobras Platform Accident; Output Halted

Brazil's state-led oil company Petrobras was forced to stop output at its P-56 offshore oil production ship on Wednesday in the Marlim Sul field after an explosion

Energy

US Funding for Air Emissions/Alternative Energy Projects

The U.S. Maritime Administration (MARAD) announced that up to $1.3 million in Federal funding is now available through cooperative agreements for projects supporting

US Oil Platform on Fire in Gulf Of Mexico

An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.

SoCal Beach Cleanup Could Take Months

The U.S. Coast Guard captain overseeing cleanup of oil spilled from a pipeline rupture that closed two California state beaches and fouled offshore waters near

 
 
Maritime Contracts Maritime Security Maritime Standards Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.1124 sec (9 req/sec)