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China, UK cooperate on energy exploration

www.chinanews.cn 2005-03-25 13:30:36

Chinanews, Beijing, Mar. 24 (By Jia Quanxin) - China National Offshore
Oil Corporation (CNOOC) and Primeline Energy Holdings Inc. of the U.K.
signed a contract of cooperative oil and gas exploration in the East
China Sea at the Great Hall of the People this evening, opening a new era
of energy exploration in the sea.
CNOOC and Primeline will jointly explore a 7006 square km 25/34 region of
the East China Sea, 75 to 95 meters deep and about 390 km southeast to
Shanghai. The contract specifies that Primeline will be responsible for
collecting seismic data and drilling during the exploration.
According to the contract, Primeline will be responsible for all costs
and risks during the exploration, and CNOOC will have rights to a maximum
of 51% of all commercial oil and gas discoveries in the area without
compensation.
It is reported that CNOOC is exerting all efforts to construct an
offshore natural gas pipeline network along the east coast of China, from
the Bohai Sea Economic Zone in the north via the Changjiang Delta
Economic Zone to the Pearl River Delta Economic Zone in the south.
Currently, CNOOC has established four major liquefied natural gas import
stations in Guangdong, Fujian, Shanghai and Ningbo and natural gas
distribution plants in Hong Kong, Liaoning, Tianjin, Shandong, Zhuhai,
Zhongshan, Ningbo, Shanghai and Hainan.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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