CNOOC, Husky team up for South China Sea block

Offshore staff

HONG KONGCNOOC has signed a production-sharing contract with Husky Oil Operations (China) for block 15/33 in the South China Sea.

The concession covers 155 sq km (60 sq mi) in the Pearl River Mouth basin, in water depths of 80-100 m (262-328 ft). It is one of the blocks CNOOC offered for foreign cooperation in 2014.

Husky will operate during the exploration period and incur all costs of exploration activities. Should any commercial discoveries follow, CNOOC has the right to take an interest of up to 51% in the development phase.

12/03/2015

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