China National Offshore Oil Corp. invites foreign companies to submit bids for 18 exploration blocks located offshore China.
China National Offshore Oil Corp. (CNOOC) invited foreign companies to submit bids for offshore oil and gas exploration blocks in the country, the firm said in a press announcement Wednesday.
The Chinese state-owned company is offering 18 blocks in the tender, spreading over an area of 20,281 square miles (52,257 square kilometers) offshore China.
CNOOC indicated that it will be flexible in negotiating contracts with bidders relating to terms and conditions of the exploration period, relinquishment and payment on the signature fees if the blocks are located in deepwater, deep play structure as well as high temperature and high pressure (HTHP) structure.
Interested companies should approach CNOOC to schedule a visit to the Data Room in Tianjin, Shanghai, Guangzhou and Zhangjiang, where they can purchase relevant information of the offshore blocks offered in the tender from Feb. 24 to June 30.
The offshore blocks offered by CNOOC in the tender are:
The closing date for bid submissions is Oct. 31.
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