Project Profile
Value: Undisclosed
Location: Bohai Bay, gulf of the Yellow Sea, northeast China
Reserves: unknown
Production: 4,000 barrels a day of crude oil
Depth: less than five metres deep
Start-up Year: 2003
Noble Energy holds a 57% stake in the Chengdaoxi field, which began commercial operations in 2003 and currently produces about 4,000 barrels a day of crude oil. China Petroleum & Chemical Corp, known as Sinopec Corp, holds the remaining stake in the field, which is classified as an onshore project because it is in waters less than five metres deep. Roc Oil Co is one prospective bidder for Noble\'s stake who is considering its exit from the field. Roc has experience in exploring and developing oil fields of similar size in Bohai Bay. Roc isn\'t the only bidder for Noble\'s stake, which has attracted interest from a wide field that includes other medium-size energy companies.
Operators:
Sinopec Corp: Operator with 43% interest
Noble Energy: 57% interest