Beibu Gulf, WZ10-3W & Block 22/04
|Asset overview - Beibu Gulf WZ10-3W Development and Exploration Block|
Beibu Gulf, offshore China
Roc Oil (Bohai) Company (operator
- development planning & execution)
|JV partners and interests|
WZ10-3W Development & Production
Exploration & Appraisal
|Roc Oil (Bohai) Company||35%||58.3%||35%|
|Smart Oil Investment Limited||25%||41.7%||65%|
Feasibility studies are ongoing on subsurface, facilities, drilling and completion.
ROC signed a Petroleum Contract with CNOOC on 3 July 2018 to develop the Weizhou 10-3W oil field. ROC has a paying interest of 58.3% until FID is reached.
The Petroleum Contract includes exploration block 22/04, in which CNOOC has the right to participate in up to 51% of any development.
Following data purchases in 2018, subsurface studies progressed and the subsurface program passed CNOOC Limited experts' review in August 2019. Development feasibility studies are in progress.