×
×
Project Insights

CNOOC pins growth on waters of South China Sea

CNOOC’s new offshore acreage offer in the South China Sea underlines the importance of the region to growing the company’s output and meeting Beijing’s call to reduce reliance on imports CNOOC’s new offshore acreage offer in the South China Sea underlines the importance of the region to growing the company’s output and meeting Beijing’s call to reduce reliance on imports.
By Tang Tian 27 June 2019 Asia Pacific / Exploration & Production 0 34346
A CNOOC offshore platform. (CNOOC)

The key issue: China National Offshore Oil Corp. plans to offer five offshore blocks spanning 100,000 hectares in the Pearl River Mouth Basin of the South China Sea to foreign companies for joint exploration this year.

Interfax analysis: The five blocks in China’s Pearl River Mouth Basin set to be offered by China National Offshore Oil Corp. (CNOOC) this year underline the country’s desire to attract international investment into its upstream sector. IOCs and smaller foreign players are likely to be drawn to the opportunity as...