CNOOC issues tender for offshore blocks

Offshore staff

HONG KONGChina National Offshore Oil Corp. (CNOOC) has offered 18 blocks and invited foreign firms to partner with the company on 20,281 sq mi (52,257 sq km) of acreage offshore China, Reuters has reported.

According to the report, the national oil firm would make certain concessions to attract interest in deepwater plays. CNOOC said it would be flexible in negotiating contracts with bidders relating to terms and conditions of the exploration period, relinquishment, and payment on the signature fees if the blocks are located in deepwater, deep play structures as well as high-pressure/high-temperature structures.

Interested companies can schedule a visit to data room in Tianjin, Shanghai, Guangzhou, and Zhangjiang. From there, information on the blocks offered in the tender from Feb. 24 to June 30 can be purchased.

The offshore blocks offered are:

  • Blocks 11/03, 11/09, and 06/36 in the Bohai Bay basin
  • Block 24/17 in the South Yellow Sea basin
  • Blocks 26/18, 28/06, 14/21, 29/24, 41/24, 42/12, 43/08, 55/05, and 44/07 in the Pearl River Mouth basin (East)
  • Block 50/13 in the Yinggehai basin
  • Blocks 53/23, 64/03, 53/34, and 53/36 in the Qiong Dongnan basin.

The closing date for bid submissions is Oct. 31, according to the report.

03/03/2016

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