CNOOC Inks PSC with Primeline for Block 33/07 in East China Sea

CNOOC Inks PSC with Primeline for Block 3307 in East China Sea

CNOOC Limited 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) 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. CNOOC has the right to participate in up to 51% working interest in any commercial discoveries in the block.

Mr. Zhu Weilin, Executive Vice President of the Company and General Manager of Exploration Department commented, “This is the fourth Petroleum Contract that Primeline has signed with CNOOC. We value our relationship with Primeline and expect great results from our cooperation.”

Subsea World News Staff , June 18, 2012;  Image: CNOOC

 

 

Share this article

Follow Subsea World News

Events>

<< Aug 2015 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Africa Oil & Gas Conference

Africa Oil & Gas Conference in September 2015 will be that the countries that will be proven most successful in managing their natural…

read more >

Deepwater Intervention Forum

The conference named as Deepwater Intervention Forum will cover areas like designing to reduce training time, developing competency in well…

read more >

Subsea UK’s Challenge Cup

Swing for victory as you compete with teams from around the sector in Subsea UK’s Challenge Cup. An opportunity for networking and fun. Includes 18 holes of golf with a shotgun start, starting with bacon rolls, refreshments at the half-way house and concluding with a late lunch and the prize-giving.

More info 

read more >

Diploma in Surveying of Offshore Floating Units

This professional development Diploma in Surveying of Offshore Floating Units has been designed to provide the necessary knowledge required…

read more >