CNOOC, ConocoPhillips to Pay USD 266 mln for Penglai Oil Spill Damage (China)

CNOOC and ConocoPhillips Pay for Penglai 19-3 Oil Spill Damage (China)

CNOOC Limited stated today that according to the news of its parent company, China National Offshore Oil Corporation (CNOOC), the compensation for marine ecological damage caused by Penglai 19-3 oil spill accident in Bohai Bay was in significant progress with the great effort made by the State Oceanic Administration of People’s Republic of China (“SOA”).

ConocoPhillips China Inc. (COPC) and CNOOC will pay an aggregate amount of RMB 1.683 billion (266.7 million), among which COPC will contribute RMB 1.09 billion (172.7 million) to compensate for the marine ecological damage caused by the oil spill accident. In addition, CNOOC and COPC will each fund RMB 0.48 billion and RMB 0.113 billion to resume the social responsibility for Bohai environmental protection. According to SOA release, the above mentioned funds will be used for ecological and environmental protection in Bohai, reduction on oil pollutants discharge at entrance to Bohai, habitat restoration of damaged marine ecological environment, as well as monitoring and researching on oil spill impact on ecological environment. The Company said it would continue to support and assist COPC to deal with the subsequent issues.

Source: CNOOC Limited, April 27, 2012

Share this article

Follow Offshore Energy Today

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

OTC Asia 2018

The biennial OTC Asia is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge…

read more >

THE 5TH OIL & GAS VIETNAM 2017

The 5th edition of Oil & Gas Vietnam (OGAV) exhibition 2017 is the only specialized event in Vietnam that brings together an international…

read more >

FPSO Europe Congress 2018

The FPSO Europe Congress 2018 builds on these themes, lending a particular focus to FPSO Value Preservation and Operational Excellence…

read more >

Arabia 2018 Conference and Exhibition

Offshore Arabia is a focused prestigious meeting place of the Offshore Industry, and it’s diverse spectrum from the Oil & Gas…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you’ll reach countless professionals in the sector. For more information, click below...

apply