Pearl River Mouth Basin
|Asset overview - Block 03/33|
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 03/33Contract Area A
Block 03/33Contract Area B
|Roc Oil (China) Company
|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%.
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.
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.