Roc Oil has commenced production from the first appraisal well drilled in the new Zhanghai block.
On July 15, the ZD CP2N-H1 appraisal well commenced drilling from the Zhao Dong C4 platform, intersecting 1,017 feet (310 meters) of horizontal reservoir section. The well was completed, and production commenced, through existing C4 facilities, at an initial rate of 3,546 bopd. Roc will now drill a second appraisal well during 2012.
Additionally, PetroChina exercised its rights under the PSC to assist with a 51% interest in the blocks. The interests in the two, new additional, blocks are PetroChina 51%, Roc 39.2% and Sinochem 9.8%. The Zhao Dong Block is located in Bohai Bay, offshore China
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