Beibu Gulf, WZ10-3W & Block 22/04

Asset overview - Beibu Gulf WZ10-3W Development and Exploration Block
Location

Beibu Gulf, offshore China
Development area 18km2: WZ 10-3 West
Exploration block 22/04 area 80km2

Operator

Roc Oil (Bohai) Company (operator - development planning & execution)
Smart Oil Investment Limited (operator - exploration)

JV partners and interests

WZ10-3W   Development & Production

WZ10-3W

Exploration & Appraisal 

Block 22/04

Exploration

CNOOC Limited 40% - -
Roc Oil (Bohai) Company 35% 58.3% 35%
Smart Oil Investment Limited 25% 41.7% 65%
Status

Feasibility studies are ongoing on subsurface, facilities, drilling and completion.

History

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.