CNOOC signs PSC with Roc for two South China Sea blocks

Offshore staff

HONG KONG
China National Offshore Oil Corp. (CNOOC) has signed two production-sharing contracts with Roc Oil (China) for blocks 16/07 and 03/33 in the South China Sea.

The two blocks are in the Pearl River Mouth basin. Block 16/07 covers 2,743 sq km (1,059 sq mi) and has a water depth of approximately 100 m (328 ft). Block 03/33 covers 2,367 sq km (914 sq mi) and has a water depth of 65-145 m (213-476 ft).

According to the agreement, Roc will be the operator during the exploration and CNOOC can participate with a working interest of as much as 51% in any commercial discoveries.

08/19/2015

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