Devon Sells Panyu Field to China
Devon Energy Corporation, a U.S.-based oil and gas exploration, development and production company, sold its producing Panyu field located offshore China to China National Offshore Oil Corporation. China National Offshore is a state-owned oil and gas producer in China. In April, Devon Energy said it had agreed to sell its producing Panyu field located offshore China to China National Offshore for $515m. During 2009, Devon's production from the Panyu field was approximately 12 thousand barrels of oil per day.
CNOOC, BP Sign Production Sharing Contract
CNOOC Limited said that its parent company, China National Offshore Oil Corporation (CNOOC) has signed production sharing contract (PSC) with BP for deepwater Block 54/11 in Pearl River Mouth Basin in the South China Sea. Block 54/11 is located in Pearl River Mouth Basin in the east part of the South China Sea. It covers a total area of 4,586 square kilometers with water depths of 370- 2,300 meters. According to the terms of the contract, all expenditures incurred during the exploration period will be borne by BP. CNOOC has the right to participate in up to 51% working interest in any commercial discoveries in the block. CNOOC will act as the Operator in the Block.
Roc Oil Starts Drilling on Block 09/05 & FARM-OUT OF 40%
Roc Oil (Bohai) Company, a wholly owned subsidiary of Roc Oil Company Limited (ASX:ROC), as operator of Block 09/05, Bohai Bay, Offshore China advises that drilling has commenced on the first exploration well QK11-1-1. Drilling from CPOE Rig 33 commenced at 11:00 China Standard Time on 14 August 2014. Total depth planned for this well is ~4,000 metres TVD (~4,500 metres measured depth). The 335 square kilometres block is located approximately 15 kilometres north of ROC’s existing Zhao Dong production and appraisal blocks in water depths of 5-15 metres.
Qingdao and CNOOC Sign Contract
The Qingdao Beihai Shipbuilding Heavy Industries Co., Ltd. and the China National Offshore Oil Corporation (CNOOC) have recently signed a contract on the building of a 100,000-ton FPSO (floating, production, storage and offloading) vessel in Haixi Bay of Qingdao. Qingdao will thus become China's third FPSO vessel building base after Dalian and Shanghai. FPSO, used for offshore oil exploitation and production, has a high technology content and is difficult to build. In China, only the Dalian New Shipbuilding Heavy Industries and Shanghai Waigaoqiao Shipbuilding Co., Ltd. can build such special vessels at present. The cooperation between CNOOC and Qingdao Beihai Shipbuilding Heavy Industries seeks to transform Haixi Bay of Qingdao into the country's most powerful FPSO vessel building base.
CNOOC Discovers New Bohai Bay Oil Reserves
The China National Offshore Oil Corporation (CNOOC) announced the discovery of 200 million cubic meters of oil in Bohai Bay this year, China View reports. CNOOC made the announcement after the discovery of the Jinxian (JX) 1-1 high yield oil-bearing structure while drilling the JX1-1-2D well in Liaodong Bay, in the eastern part of Bohai Bay. So far, CNOOC has made eight new discoveries in Bohai Bay with an estimated oil reserve of 200 million cubic meters and gas reserve of 1.5 billion cubic meters, according to the report. The discoveries make it possible for the Bohai Bay to turn out 30 million cubic meters of oil by 2010. Additionally, Bohai Bay produced 14 million cubic meters of oil and gas this year, becoming China’s third largest oilfield. Source: China View
CNOOC, Devon Energy Corporation Sign PSC
China National Offshore Oil Corporation (CNOOC) signed a production sharing contract (PSC) with Devon Energy Corporation for deepwater block 42/05. Block 42/05, located in Baiyun Sag of Pearl River Mouth Basin in the Eastern South China Sea, covers a total area of 6,939 square km. with water depth ranging from 300 to 2000 m. The company has acquired 2-D seismic data in the block. Under the terms of the contract, Devon is committed to conduct a 3-D seismic survey and wildcat drilling during the exploration period. All expenditures incurred during exploration period will be borne by Devon. CNOOC Ltd., a subsidiary of CNOOC, has the right to participate in up to a 51% interests in the event of any commercial discovery in the block.
Chinese Firms in Winning Libra Field Bid, Offshore Brazil
The Chinese firms, China National Offshore Oil Corporation ( CNOOC) and China National Petroleum Corporation (CNPC), have a 10 percent stake each, with Shell and Total taking 20 percent each, and Petrobras the remaining 40 percent share. The Libra block is located in Santos Basin ultra deep waters in the pre-salt polygon and is considered a prospect of high potential. The total extension of the area is 1,547.76 km2 and was discovered by well 2-ANP-0002ARJS, drilled in 2010. Under the rules of the auction, Petrobras had to participate in any consortium with at least a 30-percent stake, and to operate the field. The rules also called for the Brazilian government to receive a minimum 41.65 percent of the field's output…
Oil Spills Pollute Jakarta Waters
The waters in the Kepulauan Seribu Seribu National Park (TNKS) in the Java Sea north of Jakarta were last week polluted by oil spills from oil rigs of China National Offshore Oil Corporation (CNOOC) and BP Indonesia or from passing tankers, Antara reported. The TNKS authority has caused the oil spills from rigs of the Chinese company and the subsidiary of United Kingdom-based BP (British Petroleum) or passing tankers had been polluting the waters around Putri and Perak islets since Feb 18. The TNKS had also found that the polluted area was widening as the oil spills were also spotted in waters around Putri Timur and Bira Besar islets on Feb 19. The pollutants reportedly had also made the waters around Putri Barat, Kayu Angin Bira, Belanda, Petondan and Pelangi islets dirty.
Wood Group Wins Subsea Contract Supporting CNOOC
UK-based energy services company Wood Group has been awarded a new contract by the China National Offshore Oil Corporation (CNOOC) to support the Lingshui 17-2 gas development in the Qiongdongnan basin of the South China Sea. Subsea and flow assurance services will be provided under the contract, which is effective immediately and will be supported by Wood Group’s offices in Perth, Australia and London. An independent review for the development’s subsea production system design and a special study and design for its gas export pipeline will be delivered.
CNOOC to Invest $12B in Gas, Oil Exploration
The China National Offshore Oil Corporation (CNOOC) will invest $12.5b in gas and oil exploration in the next five years, CRI reported. By 2010, more than 50 new gas and oil fields of CNOOC Limited will be completed and put into production. The new fields, 24 of which are under construction and 13 under development assessment, are mainly located in East China's Bohai Sea, the Pearl River estuary and the Beibu Gulf in the South China Sea. By 2010, CNOOC Limited will have a production capacity of 50 million tons of oil equivalent, including 38 million tons of crude oil and 12.6 billion cubic meters of gas. (Source: CRI)
China Offshore Inert Gas Orders for Norway's WTS
Wilhelmsen Technical Solutions (WTS) say they have secured multiple orders to supply Maritime Protection Inert Gas Generator (IGG) systems for installation on vessels under construction for operations offshore China. The Maritime Protection systems will be installed on three FPSOs for oil major China National Offshore Oil Corporation (CNOOC). Two identical systems, comprising a deck house module with electric power, fuel and sea water supply/discharge, will be supplied for two FPSOs which will operate in the Bohai oil field in northern China.
China Shipbuilders Ready to Foray into Offshore Engineering
Jiangsu Rongsheng Heavy Industries Group Co Ltd began building CNOOC 201, a deepwater pipe laying and lifting vessel for China National Offshore Oil Corporation in Rugao Port of Nantong City in Jiangsu Province on September 16th 2008. CNOOC Engineering plans to input CNY 15 billion(USD2bn) in construction of a series of deepwater equipment including deep sea drilling vessels, ready to focus on deepwater prospecting, since most of the country's newly discovered oilfields are deep undersea. According to South Korean companies' experience, the gross margin of offshore engineering reaches up to 30%, while that of China's domestic shipbuilding industry has only hit 18% to 19% since the beginning of 2008.
CNOOC Signs PSC with Primeline
CNOOC Limited (NYSE: CEO, SEHK: 00883) announced that its parent company, China National Offshore Oil Corporation (CNOOC) has signed a production sharing contract (PSC) with Primeline Energy China Limited (PECL) and Primeline Petroleum Corporation (PPC) (jointly as "Primeline") for Block 33/07 in the East China Sea. Block 33/07 is located about 390 kilometers of Shanghai in the East China Sea. It covers a total area of 5877 square kilometers, with water depth of 90 meters. According to the terms of the contract, Primeline will conduct 3D seismic data survey and drill exploration wells in Block 33/07 during the exploration period, in which all expenditures incurred will be borne by Primeline.
ABB to Automate LNG Terminal in China
ABB has won a $4m contract to supply an Integrated Central Control System for a new liquefied natural gas (LNG) import terminal in the Peoples Republic of China. The Fujian LNG Terminal & Trunkline Project will be owned and operated by CNOOC Fujian LNG Co. Ltd., a co-investment of China National Offshore Oil Corporation (CNOOC) and Fujian Investment and Development Corporation. Located in the city of Xiuyu, Fujian Province, in southeast China, the LNG regasification terminal will have an initial capacity of 2.6 million tons of LNG per year in Phase I. Expansion plans are already under way. The natural gas from the terminal will be provided to the gas fired power plant terminals, city industries, commercial and residential users along the coast.
CNOOC LNG Terminal Approved
Reuters reports that China National Offshore Oil Corporation (CNOOC) has won approval from the National Development and Reform Commission to build its fourth liquefied natural gas (LNG) receiving terminal and relevant facilities. The first phase of the Zhejiang project, costing around $1.03 billion and developed to receive 3 million tons of LNG per year, was scheduled to be operational in 2012, the parent of CNOOC Ltd said in an announcement on its website. The project includes a berth to dock LNG carriers with shipping capacities between 80,000 and 266,000 cu. m and three storage tanks with capacities of 160,000 cu. m each.
Late Delivery Expected for CNOOC's First Deep-water Rig
According to a Reuters report, the delivery of China National Offshore Oil Corporation's (CNOOC) first deep-water semi-submersible drilling platform will be delayed, at least for months, state media reported recently. Construction of the platform is expected to be completed in 2011, the official Xinhua news agency cited the company as saying. CNOOC had anticipated the delivery on Oct.1, 2010. This would mean the top offshore oil producer in China has to postpone its first independent voyage, armed with a Chinese rig, to tap deep water oil and gas resources home and abroad. CNOOC has awarded the construction, a $599m deal, to China Shipbuilding Industry Corporation's Shanghai Waigaoqiao plant, the report said, though it did not state when construction will kick off.
CNOOC, Newfield Sign PSC contracts
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.
Aker Kvaerner has a Breakthrough Order in China
Aker Kvaerner won a contract by China National Offshore Oil Corporation (CNOOC) for delivery of drilling equipment and system for an ultra deepwater drilling semisubmersible unit. The contract value for Aker Kvaerner is approximately $128 million. "This first delivery of drilling equipment systems into the Chinese offshore market is a breakthrough for Aker Kvaerner. We are very pleased that CNOOC has chosen us and are committed to execute this project to a high quality and on schedule," says Mads Andersen, executive vice president in Aker Kvaerner. The contract is undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner MH in Kristiansand. The scope of work is to deliver drilling equipment package, installation and commissioning supervision.
CNOOC, Newfield Sign PSC Contracts
China National Offshore Oil Company Limited (CNOOC Ltd) announced Wednesday 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.
DNV Greater China Offshore Committee
Zhou Shouwei, Vice General Manager of CNOOC (China National Offshore Oil Corporation) and Academician of the Chinese Academy of Engineering accepted DNV’s invitation to be the chairman of the DNV Greater China Offshore Committee. The DNV Offshore Committee is the first of its kind to be organized by a classification society in China. “The objective of establishing this committee is to create a forum where senior executives from the Chinese offshore industry can meet to exchange information on new technology, innovation, experiences and practices related to offshore engineering,” said DNV Vice President and Regional Manager Joerg Beiler.
Aker Kvaerner Wins China Contracts
Aker Kvaerner takes further strides into the Chinese market by signing two deals with China National Offshore Oil Corporation (CNOOC). One contract is for the delivery of a complete marine drilling riser system and associated equipment, while the other is for delivery of mooring equipment to a new deepwater semi submersible drilling unit. Contract values are undisclosed. The marine drilling riser system has a total length of 7500 ft. The marine drilling riser system will be manufactured and delivered out of Aker Kvaerner Subsea's new high tech manufacturing centre in Malaysia. Delivery is scheduled for Q2, 2010. Aker Kvaerner subsidiary, Aker Kvaerner Pusnes will deliver its well-proven mooring equipment to CNOOC's drilling rig.
Wärtsilä Selected Best Supplier by CNOOC
Wärtsilä received an award for supplier excellence from CNOOC, the China National Offshore Oil Corporation. After internal evaluation by project management teams, 28 Chinese and international vendors participating in nine of CNOOC's major projects were honored. Wärtsilä is involved in four of these projects. This was the first time that CNOOC had arranged such an event to recognize its best suppliers, and the awards were presented at a ceremony held in Beijing. The project for which Wärtsilä received the award involves the construction and commissioning of the deepwater pipe-laying and crane vessel named Hai Yang Shi You 201 (HYSY 201). The vessel will be used in the construction and installation of infrastructure needed to develop offshore deepwater oil & gas fields worldwide.
South China Sea Energy Exploration by Chevron
Chevron Corporation's China subsidiary signs production sharing contracts for exploration blocks in the Pearl River Estuary, South China Sea. Chevron's agreement is with China National Offshore Oil Corporation (CNOOC). Under the PSC agreements, Chevron China Energy Company will hold a 100 percent interest in blocks 15/10 and 15/28 in the Pearl River Mouth Basin. During the exploration phase Chevron China Energy Company will be the operator of the two shallow water blocks, which in total cover an area of approximately 2,233 square miles (5,782 square km). “Exploration of these blocks builds on our strategy to grow our business across the Asia Pacific region, where we are developing LNG, deepwater, shale and sour gas resources,” said George Kirkland, vice chairman, Chevron Corporation.