Press Esc to close

WorldOil

World Oil News Center



CNOOC signs PSC with Smart Oil

HONG KONG -- CNOOC Limited has announced that its parent company, China National Offshore Oil Corporation (CNOOC), has signed a production sharing contract (PSC) with Smart Oil Investment Ltd. for Block 05/31 in Bohai.

Block 05/31 is located in the junction of Qikou Sag and Nanpu Sag of the West of Bohai. It covers a total area of 270 sq km with water depth ranging from 5 to 15 m.

According to the terms of the PSC, Smart Oil will conduct a 3D seismic data survey and drill exploration wells in the block during the exploration period, in which all expenditures incurred will be borne by Smart Oil. CNOOC has the right to participate in up to 51% working interest in any commercial discoveries in the block.

09/17/2013

 

Bookmark and Share


WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

MEDIA CENTER

By Digital Publisher

Drill Bit Classifier World Oil published its renowned Drill Bit Classifier in September 2013. The Drill Bit Classifier is a comprehensive listing of major manufacturers' d...

ENERGY EVENTS