WSJ: Noble Energy selling stake in CDX field, offshore China

Noble Energy is in talks with potential bidders to offload its stake in an offshore field located in the Bohai Bay, China.

According the Wall Street Journal, the U.S. based exploration and production company is looking to gain around $300 million from the potential transaction.

Australia’s Roc Oil has been touted as the most likely buyer for Noble’s Cheng Dao Xi (CDX) oil field, the WSJ said, citing sources familiar with the matter. Roc Oil already owns shares in four offshore blocks in the Bohai Bay (Zhao Dong, Zhanghai, Chenghai and 09/05 fields). However, Roc is not the only company interested in the acquisition, the WSJ said, without disclosing who the other oil firms were.

The CDX field is located on the south side of Bohai Bay in approximately 25 feet of water. A five-mile pipeline connects the production platform to existing onshore processing and pipeline infrastructure located in the Shengli oil field.

First oil from the field was produced in January 2003.

Noble Energy has a 57 percent working interest in the CDX field. China Petro-chemical Corporation (SINOPEC) is Noble Energy’s partner with a 43 percent working interest.

 

Offshore Energy Today Staff, February 21, 2014

 

 

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 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 3 4 5

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