By OGJ editors
HOUSTON, Dec. 4 – Primeline Energy Holdings Inc., London, and China National Offshore Oil Corp. plan to submit a development plan for Lishui 36-1 gas-condensate field in the East China Sea to China’s National Development and Reform Commission in the first quarter of 2010.
Primeline formally notified Cnooc that it has elected to enter the second exploration phase for Block 25/34. The 2-year period is deemed to have begun on May 1, 2009, with a commitment for two wells, including one unfulfilled well commitment carried over from the first phase.
Primeline, which has 75% interest in the block, is obliged to relinquish 25% of the exploration area at the expiration of the first phase of the exploration period and has designated the area to be relinquished, reducing block size to 5,221 sq km.
US Department of the Interior.
File photo from PDVSA..
