Project Profile
Location: Pearl River Mouth Basin, South China Sea, China
Area: 2,367 sq kms
Length: 65-145 metres
Start-up Year: -
CNOOC Limited has signed a production sharing contract (PSC) with Roc Oil (China) for Block 03/33 in the South China Sea. According to the terms of the PSCs, ROC shall act as the operator during the exploration period and conduct exploration activities, in which all expenditures incurred will be borne by ROC. Once entering the development phase, CNOOC has the right to participate in up to 51% of the working interest in any commercial discoveries of the block.
Operators:
Roc Oil (China) Company (ROC): Operator with 100% interest
China National Offshore Oil Corporation (CNOOC): *51% interest (*right to participate in any commercial discoveries)