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Announcement of Notification for Bidding Blocks Offshore China of 2019

Time:2019-06-26 Size:[ Large Medium Small ]

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 issued the following Announcement of Notification for Bidding Blocks Offshore China of 2019:

In 2019, eight (8) Offshore China Exploration Blocks covering an area of 9761km2 are available for bidding. Among them, five (5) blocks are located in Pearl River Mouth Basin with the acreage of 993km2, one (1) block is located in each of Qiongdongnan Basin and Yinggehai Basin with the acreage of 2257km2. In addition to above-mentioned blocks, one (1) new Strategic Cooperation Zone covering an area of 6511km2 is open in year 2019 following the Strategic Cooperation Zones launched in 2018. In the meantime, we also launch six (6) Offshore China Development Oil Fields/Blocks in the Pearl River Mouth Basin, Yinggehai Basin and Bohai Bay for cooperation.

CNOOC will continue to innovate our thinking on the basis of win-win cooperation. For deep water areas and deep formation, CNOOC considers adopting more flexible and preferential contract clauses in terms of exploration period, relinquishment, signature fee, participating interest and X factor. As for the cooperation of Development Oil Fields/Blocks, CNOOC considers signing production sharing contract and technical service contract, and adopting various forms to be evaluated in terms of shares of participating interest, in order to attract foreign investment, solve the technical neck and increase reserves and production.

As usual, CNOOC will convene a promotion conference to introduce the scope and details of the blocks and business model to the new and old potential partners who are interested. CNOOC also welcomes the oil companies and financial companies who have not yet established a cooperative relationship with CNOOC to inquire and discuss about cooperation opportunities.

Promotion Conference Date: July 11 to 12.

Venue of the conference meeting: Haikou, Hainan Province, China

Contact: Ms. Zhang Lei,

Outbound Cooperation Management Division, Exploration Department, CNOOC

No.25, Chaoyangmenbei Dajie, Dongcheng District, Beijing

The People’s Republic of China

Post Code: 100010

Tel: (86-10) 84521499

Fax: (86-10) 64011987

E-mail: zhanglei6@cnooc.com.cn

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