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.  An optimised subsurface program was accepted by CCLZ Experts in 1Q 2021. Following reviews with CCLZ Experts and CNOOC Experts in 2021, the development feasibility study was approved in principle and is nearing completion.

Key projects being pursued in 2022 include completion of the WZ10-3 West development plan and completing drilling of an exploration well in Block 22/04.