CNOOC Announces Notification for Bidding Blocks Offshore China of 2022

Source: www.gulfoilandgas.com 7/18/2022, Location: Asia

According to the relevant provisions of the Regulations of the People's Republic of China on the Exploitation of Offshore Petroleum Resources in Cooperation with Foreign Enterprises, China National Offshore Oil Corporation(CNOOC)hereby issues the following Announcement of Notification for Bidding Blocks Offshore China of 2022:

Thirteen (13) Offshore China Exploration Blocks covering an area of 17,205km2 are available for bidding in 2022, among which one (1) block is located in Bohai Bay with the acreage of 330km2, eleven (11) blocks are located in Pearl River Mouth Basin with the acreage of 16,235km2, and one (1) block is located in Yinggehai Basin with the acreage of 640km2.

In 2022, CNOOC will innovate cooperation modes with foreign enterprises and expand the scope of partners while continuing to uphold the vision of win-win cooperation. In the meantime, for deep water areas and deep formation, CNOOC will adopt flexible and preferential business arrangements in terms of exploration period, relinquishment, signature fee, participating interest and X factor in the hope of achieving the goals of expanding cooperation with foreign enterprises and enhancing foreign investments in China offshore oil and gas exploration and development.

Opening Period for Data Room: From Today to December 31, 2022.

Closing Date for Bid: February 28, 2023


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