Pearl River Mouth Basin
| Asset overview - Block 03/33 | |||||||||||||||||
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| 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. |
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| Operator | Roc Oil (China) Company |
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| JV partners and interests | |||||||||||||||||
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Block 03/33 Contract Area A |
Block 03/33 Contract Area B |
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| 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%. |
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| Status |
G&G studies are in progress in preparation for drilling the remaining commitment well in exploration period phase 2. |
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| 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. |
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