Marine Link
Wednesday, October 26, 2016

PetroChina Takes Stake in Australian Offshore Exploration

February 21, 2013

PetroChina Company signs agreements with ConocoPhillips (COP) to take interests in W. Australian exploration assets & a JSA in China.

Under these agreements, PetroChina (PCCYF) will acquire 20% interest in the Poseidon offshore discovery in the Browse Basin, and 29% interest in the Goldwyer Shale onshore Canning Basin. In addition, PetroChina and ConocoPhillips will enter into a Joint Study Agreement (JSA) to study unconventional gas resource in the Neijiang-Dazu Block in China’s Sichuan Basin. The agreements still require government and partner approvals.

The signing of these agreements marks a significant step toward increased global collaboration between PetroChina and ConocoPhillips. For PetroChina, this is also an important movement to continue improving the offshore LNG and onshore unconventional oil and gas developments in West Australia.

PetroChina is the largest oil/gas producer and distributer in China. and one of the largest in the world.

Maritime Reporter Magazine Cover Oct 2016 - Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News