CNOOC Updates 2001 Exploration Plans

CNOOC announced its updated 2001 exploration plans. CNOOC along with its PSC partners are pursuing an aggressive exploration program in 2001 and have had several successes to date and they continue to be optimistic about the exploration potential offshore China.

CNOOC plans to drill 20 exploration wells in 2001, and its PSC partners have plans to drill 27 to 38 wells for a total of 47 to 58 wells offshore China. An active seismic program is also being undertaken. CNOOC plans to shoot 10,000 km of 2-D seismic and 1,200 km2 of 3-D seismic in 2001. In addition, its PSC partners plan to shoot 1,800 km of 2-D seismic and 2,000 km2 of 3-D seismic in 2001, resulting in a total of 11,800 km of 2-D seismic and 3,200 km2 of 3-D seismic in offshore China.


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