Exploration blocks open to foreigners
( 2003-06-10 09:39) (1)
The nation's largest oil producer is offering 10 new exploration blocks in Chinese waters to international partners, effective immediately. In addition to a production sharing contract (PSC) for each of the 10 locations, the China National Offshore Oil Corp (CNOOC) is offering international groups the chance to exploit two untouched areas. As part of its statement late last week, CNOOC said the deep water areas announced earlier this year for foreign co-operation were still open to interested parties. The 10 PSC blocks up for grabs cover a total exploration area of 30,388 square kilometres, the company said late on Friday. Of all of the new areas, four are located in the East China Sea, three are in the Pearl River Mouth Basin in the South China Sea and the remainder are in the Beibuwan Basin, in the South China Sea. According to the corporation, the blocks have undergone some initial exploration with "promising structures" identified and mapped out. The two non-PSC areas are yet to undergo any exploration, the statement added.
|
