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>

<< Sep 2016 >>
MTWTFSS
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 1 2

Jee: Pipeline Cleaning for Decommissioning Workshop

The workshop will look in general terms at challenges to pipeline cleaning in the decommissioning phase, how these challenges can be overcome…

read more >

Petrotech 2016

The conference content is managed by a committee of industry experts representing NOCs, IOCs, service providers and academia active…

read more >

SPE Annual Technical Conference and Exhibition

The event will embrace the conference’s heritage of excellence, drawing on the expertise of leading international oil and gas professionals…

read more >

ADVANCED SUBSEA POWER AND HEATING CABLES FOR THE OIL AND GAS INDUSTRY

This conference will establish a common understanding of the challenges and indicate future application and performance of subsea electrical…

read more >