Hong Kong company signs PSC with CNOOC

A new Hong Kong company, PetroBroad Copower Ltd., will shoot 3D seismic surveys and drill an unspecified number of exploratory wells on Block 28/03 in the Pearl River Mouth basin offshore China under a production-sharing contract with China National Offshore Oil Corp.

PetroBroad Copower, which Chinese records indicate was incorporated Jan. 28, will pay all expenses during the exploration period. CNOOC said it has the right to acquire a working interest of up to 51% in any discoveries.

The block covers 68 sq km in the eastern South China Sea and has a water depth of 95 m.

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

Whitepapers

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...