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>

<< Sep 2017 >>
MTWTFSS
28 29 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

24th Annual Africa Oil Week 2017

The Conference portraying five days of senior-level executive insights, with rich-content on corporate strategies and portfolio, exposure…

read more >

FUTURE OIL & GAS

Join senior executives from oil and gas majors, service companies, technology suppliers and industry experts at this year’s premier event…

read more >

Offshore Energy 2017

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event…

read more >

3P ARCTIC 2017

There is going to be a chance to disclose the recent enhancements about Natural Resources, Petroleum, Geology, Oil, Geoscience, Geological…

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