By OGJ editors
HOUSTON, Aug. 9 -- China National Offshore Oil Corp. has signed production-sharing contracts with Husky Oil China Ltd. to explore in the South China Sea.
The PSCs were signed for Block 29/06 in the eastern South China Sea and Blocks 35/18 and 50/14 in the western South China Sea.
Block 29/06 covers 9,265 sq km within the Pearl River Mouth basin in 500-1,500 m of water. Husky committed to acquire 3D seismic survey data and drill exploration wells.
Blocks 35/18 and 50/14 are in East Slope of Yinggehai basin and cover 4,496 sq km and 3,137 sq km, respectively. Drilling in those areas will be in 20-95 m of water.
Husky will drill wildcats on both blocks and conduct a 3D seismic survey on Block 35/18.
CNOOC has the right to participate in up to 51% working interests in any commercial discoveries in the three blocks.
