Exploration & Production

CNOOC signs PSC for South China Sea concessions

CNOOC has signed a PSC with Roc Oil (Bohai) and Smart Oil Investment for the Weizhou 10-3W oilfield and Block 22/04 in the South China Sea.
By Staff reporter 4 July 2018 0 31608

China National Offshore Oil Corp. (CNOOC) has signed a production-sharing contract with Roc Oil (Bohai) and Smart Oil Investment for the Weizhou 10-3W oilfield and Block 22/04 in the South China Sea, CNOOC announced on Tuesday.

The oilfield and block are in the Beibu Gulf Basin.

Weizhou 10-3W covers 1,800 hectares at a water depth of 40 metres while Block 22/04 covers 8,000 hectares in waters 40-80 metres deep.