Roc Oil Bumps Up Production Offshore China
The Zhao Dong Block's production rate is averaging over 24,000-bopd and total year-to-date production for May 31 was approximately 2.5 MMbbl. Despite the production downtime caused by severe winter weather and sea-ice conditions in the Bohai Bay during 1Q10, production is still expected to meet the budget target of over 7 MMBBL for the year. The 2010 development-drilling program has commenced, with six of the planned 24 wells completed and online, adding 5,000 bopd to the block's current production. Additionally, preparations are in place for the construction of the gas pipeline from Zhao Dong to shore. Commencement of gas sales from the block is planned for 4Q10. Roc Oil serves as the operator of the block, holding a 24.5% interest; PetroChina Company holds 51%; and New XCL-China holds the remaining 24.5% interest.
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