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 in preparation for drilling the remaining commitment well in exploration period phase 2.

 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.

In 1Q 2021, CNOOC and ROC drilled the HZ5-1-1d exploration well in block 03/33 which was plugged and abandoned as a dry hole.

An exploration well is planned to be drilled in 2022.