CNOOC inks contract with Italy's Eni
By Richard Fu |
April 12, 2012, Thursday
|
Print Edition
Print Edition
CHINA National Offshore Oil Corp has signed a production sharing contract with Italy's Eni SpA for a deepwater block in the South China Sea.
The Block 30/27 is 400 kilometers off the coast of Hong Kong and covers 5,130 square kilometers, China National's listed unit, CNOOC Ltd, said yesterday. It's one of the blocks CNOOC offered for foreign cooperation in 2011.
Eni will conduct seismic survey and drill an exploration well in the block. All expenditures incurred during the exploration will be paid by Eni. CNOOC says it will own 51 percent in any commercial discoveries in the block.
The Block 30/27 is 400 kilometers off the coast of Hong Kong and covers 5,130 square kilometers, China National's listed unit, CNOOC Ltd, said yesterday. It's one of the blocks CNOOC offered for foreign cooperation in 2011.
Eni will conduct seismic survey and drill an exploration well in the block. All expenditures incurred during the exploration will be paid by Eni. CNOOC says it will own 51 percent in any commercial discoveries in the block.
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