Eni SPA’s Eni China BV unit will explore deepwater Block 30/27 in the South China Sea under an agreement with China National Offshore Oil Corp.
The block covers 5,130 sq km about 400 km off Hong Kong, CNOOC said. It did not give the water depth range on the block.
Eni will fully fund a 3D seismic survey and the drilling of one exploratory well. CNOOC Ltd. has the right to participate in up to 51% working interest in any commercial discovery.
Elsewhere in the South China Sea, Eni operates Block 28/20 and has equity interests in blocks 16/08 and 16/19.