China National Offshore Oil Corp. has signed a production sharing contract under which ROC Oil (Bohai) Co. will explore a block in southern Bohai Gulf.
Block 09/05 covers 355 sq km in 4-10 m of water 50 km southeast of Tianjin. ROC will shoot 3D seismic and drill exploratory wells, bearing the entire expense during the exploration period. CNOOC has the right to participate with a 51% working interest in any commercial discovery.
