China: CNOOC, Shell sign Yinggehai basin PSCs

China National Offshore Oil Corp. has signed production sharing contracts with Shell China Exploration & Production Co. Ltd. for the 62/02 and 62/17 blocks in the Yinggehai basin south and west of Hainan Island.
July 25, 2012

China National Offshore Oil Corp. has signed production sharing contracts with Shell China Exploration & Production Co. Ltd. for the 62/02 and 62/17 blocks in the Yinggehai basin south and west of Hainan Island.

The contracts call for Shell to shoot 3D seismic and drill exploratory wells in the two blocks during the exploration period. Shell will bear all expenditures, and CNOOC has the right to participate in up to 51% working interest in any commercial discovery.

About the Author

Alan Petzet

Chief Editor Exploration

Alan Petzet is Chief Editor-Exploration of Oil & Gas Journal in Houston. He is editor of the Weekly E&D Newsletter, emailed to OGJ subscribers, and a regular contributor to the OGJ Online subscriber website.

Petzet joined OGJ in 1981 after 13 years in the Tulsa World business-oil department. He was named OGJ Exploration Editor in 1990. A native of Tulsa, he has a BA in journalism from the University of Tulsa.

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