Project Profile
Estimated value: US$300 million
Location: Pearl River Mouth Basin, China
Water depth: 466 square kilometres
Area: 100-130 metres
Estimated oil reserves: 30 million bbl
Block 17/08 is located in the Pearl River Mouth Basin 180 km off Hong Kong, China and it covers a total area of 466 square kilometres with a water depth of 100-130 metres. China National Offshore Oil Corporation (CNOOC) has signed a production sharing contract (PSC) with SK Innovation Co., Ltd. (SK) for Block 17/08. According to the terms of the PSC, SK will act as the operator during the exploration period and conduct exploration activities in the block, in which all expenditures incurred will be borne by SK. The block is estimated to contain 30 million bbl of oil reserves.
Operators:
SK Innovation Co., Ltd.
China National Offshore Oil Corporation (CNOOC)