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

  • 24 November 2014

    Ensign secures contracts for 2 ADR 1500S pad drill rigs in Montney area

    Ensign Energy Services has signed contracts for two of its new ADR 1500S pad drill rigs for a major operator in the Montney area of northeast British Columbia...

  • 21 November 2014

    Statoil cancels Stena Carron rig contract offshore Angola

    Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola...

  • 19 November 2014

    Stepwise approach guides Statoil’s North American onshore path

    When Statoil entered the North American onshore industry in 2008, it was a non-operator in a joint venture (JV) with Chesapeake in one shale play. Since then, Norwegian-based…

  • 18 November 2014

    Stilley: Despite challenging outlook, opportunities are plenty in the long term

    Opportunities abound for the drilling industry even in an environment of high costs and falling oil prices, Randall D. Stilley, President & CEO of Paragon Offshore, said...

  • 18 November 2014

    In well control, an ounce of prevention is worth a pound of cure

    It has been more than four years since Macondo, and the long-term effects of the oil spill are still being determined. “Oil is a natural substance that can be degraded...

  • Read more news