Eni signs production sharing contract with CNOOC

Posted on 17 April 2012

Eni and China National Offshore Oil Corporation (CNOOC) signed a production sharing contract on 11 April in Beijing for the exploration of Block 30/27. The contract comprises the acquisition of a 3D-seismic survey of 2,000 sq km and the drilling of one well to be performed during the first exploration period.

Block 30/27, situated 400 km off the coast of Hong Kong and covering 5,130 sq km in the deepwater of the South China Sea, has a high exploration potential. Eni will be the operator of the project, with a 100% interest, leveraging on its deepwater experience. In the case of a discovery, CNOOC has a back-in right of up to 51%.

Eni has been present in China since 1980 and has been operating in the country since 1984. Currently joint operator in the CACT Consortium, together with CNOOC and Chevron, Eni holds an equity participation of 16.33% in two offshore blocks located in the South China Sea (Block 16/08 and Block 16/19), with a daily production of around 10,000 boed. Eni, as an operator, is also engaged in an exploration campaign in Block 28/20.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 20 October 2014

    Ocean Rig awarded extensions for ultra-deepwater drillships in Brazil

    Ocean Rig has been awarded extensions for its two ultra-deepwater drillships, the Ocean Rig Corcovado and the Ocean Rig Mykonos by Petrobras for drilling offshore Brazil…

  • 16 October 2014

    BG Group appoints Helge Lund as CEO; Statoil appoints Eldar Sætre as acting President and CEO

    "It has been a privilege to lead Statoil during 10 very exciting years,” Mr Lund said. “Together we have created values for Statoil’s shareholders and the society…

  • 15 October 2014

    Eni signs two PSCs for offshore exploration in Vietnam

    Eni has signed two production-sharing contracts (PSCs) with Petrovietnam for the exploration of blocks 116 and 124, located off the coast of Vietnam…

  • 13 October 2014

    OneSubsea awarded contract for PEMEX Lakach deepwater development

    OneSubsea, a Cameron and Schlumberger company, has been awarded a subsea production systems contract totaling more than $270 million for the Lakach deepwater project…

  • 08 October 2014

    Shell starts oil production from Gumusut-Kakap deepwater platform in Malaysia

    Shell has started oil production from the Gumusut-Kakap floating platform off the coast of Malaysia, the latest in a series of Shell deepwater projects...

  • Read more news