CNOOC Offers 10 New Blocks

China National Offshore Oil Corporation is offering 10 new exploration blocks offshore China to international oil and gas companies for PSC (Production Sharing Contract) exploration, effective immediately. All interested companies can make their inquiries with CNOOC's legal and contract department. In addition, the remaining deepwater blocks continue to be open to interested parties.

The newly offered ten blocks cover a total area of 35,158 square kilometers. One block is located in Bohai Bay, one block in South Yellow Sea Basin, one block in East China Sea, four blocks in Eastern South China Sea and three in Western South China Sea.

The blocks ready for PSCs have seen some degree of exploration activities. CNOOC, under the current Chinese regulations, has the exclusive rights to cooperate with foreign oil and gas companies Offshore China.