Pearl River Mouth Basin

Asset overview - Block 03/33
Location

Pearl River Mouth Basin, South China Sea, offshore China

One exploration block 03/33 with two contract areas, totalling 1,775km2 in 65-145m water depth.

Operator Roc Oil (China) Company
JV partners and interests

Block 03/33

Contract Area A

Block 03/33

Contract Area B
Roc Oil (China) Company 
100%
50%
 CNOOC Limited  - 50%
CNOOC has the right to participate in up to 51% in any development.  If exercised in full, CNOOC's interest in Area A would be 51% and in Area B would be 75.5%.
 Status 

G&G studies are in progress to high grade prospects in block 03/33 for potential drilling in exploration period phase 2.  Two wells are planned to be drilled by February 2021.

ROC is undertaking a farmout process to seek an additional partner for block 03/33.
 History 

ROC and CNOOC signed Petroleum Contracts for two blocks on 19 August 2015; blocks 03/33 and 16/07, with ROC 100% interest and operator.

In 1H 2018, ROC drilled the HZ12-5-1 exploration well in block 03/33 which was plugged and abandoned as an oil discovery.  In 2H 2018, CNOOC farmed into the blocks for 50% interest, excluding the discovery area (Contract Area A) which remains 100% ROC.

In 2019, two exploration wells drilled in block 16/07 were dry and the block was relinquished in August.