CDS 2012 to Show China’s Oil and Gas Industry Development

CDS 2012 to Show China's Oil and Gas Industry Development

The 4th China Deepwater Summit 2012 (CDS) will be held in November 29-30th, Beijing,China. It will reflect the exciting growth that China is undergoing in the World Deepwater oil and gas industry.

China’s first deep-water drilling rig started operations in the South China Sea, marking “a substantial step” made by the country’s deep-sea oil industry.The sixth-generation semi-submersible CNOOC 981, owned by China National Offshore Oil Corp. (CNOOC), began drilling in a sea area 320 km southeast of Hong Kong at a water depth of 1,500 meters.It is the first independent deep-water oil drilling to be conducted by a Chinese company, and China is the first country to explore deep-water oil and gas resources in the South China Sea.

Oil and gas consumption has soared in China amid the country’s rapid economic growth and industrialization process. The country relies on imports for more than 55 percent of crude oil and 20 percent of natural gas.Its appetite is expected to grow in the future.

Nearly 10 years, above 60% out of global oil&gas reserves are discovered from offshore, half of which are in the deepwater. There are more than 70% oil&gas resouces in deepwater area. Gulf of Maxico, West Africa and Brazil’s Campos Basin are considered to be the golden triangle for the deepwater development, which are the hottest area for all the international oil&gas developers. However, most of the offshore oil&gas developments in China are focused at shallow water.The development for South China Sea is just at the primary stage.South China Sea is one of the most important sedimentary basins in the world,which has very rich oil&gas resouces. How to deeply develop the South China Sea through cooperation and technology innovation has become the key issue for the global energy sector.

4th China Deepwater Summit 2012 will bring together all the technology solutions for a wide range of topics such as drilling, FPSO Management, Flow Assusrance, 4D Seismic, Flexible Riser System, Floating LNG, Mooring System, Spar Installation, Flexible Pipe, Multiphase Pumping, Carbon Capture etc. CSD is recognised as the leading forum addressing technical issues related to exploration, development, and production of oil and gas in deepwater E&P around the world. As our industry confronts new challenges, the sharing of deepwater experiences will play a critical role in improving the quality, safety, and economics of future endeavours.

The CDS 2012 conference will bring together the major industry players from around Asia and beyond. The focus will be on dissemination of new and existing deepwater technology and most importantly, the exchange of ideas and practical knowledge.

Subsea World News Staff , June 28, 2012; Image: CDS

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