Your account already exists. Please login first to continue managing your settings.
China National Offshore Oil Corp. (CNOOC) has signed a production sharing contract (PSC) with Primeline Energy China Ltd. and Primeline Petroleum Corp. for Block 33/07 in the East China Sea.
According to the terms of the contract, Primeline will conduct a 3D seismic data survey and drill exploration wells in Block 33/07 during the exploration period, in which all expenditures incurred will be borne by Primeline. CNOOC has the right to participate in up to 51% working interest in any commercial discoveries in the block.
Block 33/07 is about 390 km of Shanghai in the East China Sea. It covers a total area of 5,877 sq km in a water depth of 90 m (295 ft).