ConocoPhillips, CNOOC agree to pay for Bohai Bay oil spill

By OGJ editors

ConocoPhillips and CNOOC agreed to pay 1.68 billion yuan ($267 million) in compensation for a 2011 oil spill in Bohai Bay off northern China, China's State Oceanic Administration (SOA) said Apr. 27.

The spill was reported at Penglai 19-3 field starting in June and was sealed in late October 2011 (OGJ Online, Nov. 11, 2011).

ConocoPhillips China, which operates Penglai 19-3 with a 49% share, was ordered to halt operations in the field during early September. ConocoPhillips has estimated 700 bbl of crude and 2,500 bbl of oil-based drilling mud were spilled. CNNOC holds 51% interest under a production-sharing contract.

The compensation will be used for ecological and environmental protection in Bohai Bay along with habitat restoration and oil spill research, SOA said.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...