CNOOC, Sinopec sign pact for studies offshore China

Chinese oil giant CNOOC and Sinopec have signed a cooperation agreement under which they’ll conduct studies related to joint exploration and facility sharing offshore China.

Illustration: A CNOOC offshore platform – Source: CNOOC

CNOOC said in a statement on Wednesday that the cooperation framework agreement with Sinopec would cover areas offshore Bohai, Beibu Gulf, and South Yellow Sea, as well as North Jiangsu Basin.

The three-year framework agreement will be cover joint study, joint exploration, and facility sharing in multiple offshore areas.

Under the framework, both parties have signed three joint study agreements, namely, “Joint Study Agreement on Bohai Basin”, “Joint Study Agreement on North Jiangsu Basin and South Yellow Sea Basin” and “Joint Study Agreement on Beibu Gulf Basin.”

Both parties will share data and carry out innovative joint studies in the Yellow River Mouth Sag, the Qingdong Sag and the eastern part of Bodong Sag in the Bohai Basin, as well as southwestern Weizhou and Xuwen areas of Beibu Gulf Basin, the North Jiangsu Basin and the blocks in eastern South Yellow Sea Basin (involving 19 prospecting rights and approximately 26,900 sq. km altogether), CNOOC said.

During the joint study period, the exploration, development and production operation of both parties in their respective prospecting rights areas will not be affected, CNOOC said.

CNOOC said: “This cooperation will promote the distribution of sedimentary facies belts and enhance the understanding of the regularity of hydrocarbon accumulation in cooperative blocks and potential structures in the basins in order to make the optimization of potential exploration zones and targets more scientific, reduce exploration risks and improve the success rate of exploration wells.”


Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.

Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today please contact us via our advertising form where you can also see our media kit.

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2020 >>
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 31 1 2

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

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