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China Offshore Oil Corp News

30 Jan 2018

Mexico's Oil Reform a Boon for Hard-hit Oil Service, Seismic Firms

© flyingrussian / Adobe Stock

Oil service and mapping firms still emerging from an industry recession have received a boost from about $800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75-year monopoly on the energy sector held by state-run oil firm Pemex. The government of President Enrique Pena Nieto hopes the deepwater sale will attract tens of billions of dollars of investment to turnaround a slump in the country's oil output. Seven previous auctions drew investment pledges of $61 billion.

03 Aug 2001

Chinese LNG Project Progressing

A Chinese consortium led by China Offshore Oil Corp. (CNOOC) and oil major BP aim to complete a feasibility study for China's first liquefied natural gas (LNG) project by next June. An agreement for the supply of gas is also expected to be sealed in a similar timeframe, the official said. The Chinese consortium and BP plan to build a three million ton per year (tpy) LNG import terminal in southern Chinese province of Guangdong by the end of 2005. "We aim to finish the study around May or June next year. It is hoped that the gas supply contract will also fall into place around the same schedule," he said. The Guangdong LNG Joint Executive Office, a joint management team based in the city of Shekou, is preparing bidding documents for potential gas suppliers, the Shekou-based official said.