ConocoPhillips approves Bohai Bay Phase II development

By OGJ editors

HOUSTON, Dec. 16 -- ConocoPhillips will invest about $1.8 billion in cash capital commitments for the multiyear second development phase of Peng Lai 19-3 field in China's Bohai Bay.

Final project sanction is subject to approval of the overall development plan by the Chinese National Development and Reform Commission.

Phase I development began production in December 2002. The field is producing about 20,000 b/d of oil (OGJ Online, Jan. 3, 2003).

ConocoPhillips and CNOOC signed a contract in December 1994 granting ConocoPhillips exploration rights to 1.6 million-acre Block 11/05 in Bohai Bay.

Operator ConocoPhillips holds a 49% interest in the PL 19-3 development, while CNOOC holds the remaining 51%.

Related Articles

Phillips, Conoco plan $35 billion 'merger of equals' next year

11/19/2001 Conoco Inc. and Phillips Petroleum Co. said their boards have approved a merger creating a $35 billion ConocoPhillips. The companies expect to comp...

Merger of Conoco, Phillips would unite two North Sea pioneers

11/19/2001 The merger of Conoco Inc. and Phillips Petroleum Co. would unite two companies who were first to develop gas fields in the southern sector of the N...

Financial analysts call Conoco-Phillips merger a survival maneuver

11/19/2001 Financial analysts Monday generally approved the proposed stock-swap merger of Houston-based Conoco Inc. with Phillips Petroleum Co., Bartlesville,...

Phillips, Conoco plan $35 billion 'merger of equals'

11/26/2001 Conoco Inc. and Phillips Petroleum Co. have approved what is being touted as a "merger of equals," creating a $35 billion global energy company.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected