ROC's activity in China is significant, as it is a joint venture partner in respect of the Beibu Gulf and Zhao Dong assets. ROC aims to continue pursuing its growth objectives in China and aims to build on its reputation as a credible operator. Approximately 60% of ROC's revenue is derived from its Chinese projects.
In the Bohai Bay, ROC has a 24.5% interest in the Zhao Dong Block, containing two producing fields - C&D. ROC also has an 11.667% unitised interest in the C4 Field which commenced production in October 2008.
ROC has a 39.2% interest in the Zhanghai and Chenghai Blocks, adjacent to the Zhao Dong Block. The existing Petroleum Contract covering the Zhao Dong Block was modified to include these blocks in March 2011 with the aim of commercialising previous near field discoveries in the area and encouraging further exploration activity.
In the Beibu Gulf, ROC has an interest in the WZ 6-12 production area and the WZ 12-8 development area. ROC operates exploration and appraisal activities while CNOOC is the operator of development and production operations.
Since 2002, ROC has actively explored and appraised the area (previously Beibu Gulf Block 22/12), discovered the WZ 6-12 field and has worked with CNOOC through the appraisal and development phases since 2008. Production from the WZ 6-12 field and WZ 12-8W field commenced in 2013 with production performance remaining in line with expectation. The WZ 12-8E field has been identified for future development and ODP studies are underway.
In the Pearl River Mouth Basin in the South China Sea, ROC has 100% operated interest in two exploration blocks granted in 2015, Block 03/33 and Block 16/07.