Source Pravda.Ru

CNOOC To Invite Tenders For China Sea

CNOOC is inviting public tenders from foreign companies for the oil and gas exploration and development work of 12 virgin deepwater blocks in the South China Sea. No meaningful exploration work has been done in these deepwater blocks so far. The area covers a total of about 76,000 square kilometers with water depth from 300 to 2000 meters.

"Exploration in this area will help tap the unexploited potential in offshore China. We welcome experienced companies with strong track record in deepwater exploration to partner with us in the exploration work, and we believe it will bring encouraging results," said Mr. Ru Ke, Executive Vice President of the Company.

According to the constitution of CNOOC Ltd, the Company will own all the working interests caused by the exploration and development activities.

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