CNOOC invites bids for oil blocks in China Sea
SHANGHAI: State-run CNOOC, China's top offshore oil producer, has issued a tender to invite foreign firms to bid for oil and gas blocks in the East and South China Sea, according to a statement on the company's website.
CNOOC said it would offer 25 offshore blocks for foreign participation this year, including 17 in the South China Sea, three in the East China Sea and five others in the Yellow and Bohai Sea.
A CNOOC official in charge of the tender said none of the blocks offered are located in disputed territorial waters.
CNOOC in June invited foreign companies to jointly develop nine blocks in the western part of the South China Sea, a move Vietnam said was illegal because the blocks overlap its territorial waters.
The firm is also in a US$5 billion (RM16 billion) drive to develop seven new gas fields in the East China Sea.
CNOOC chairman Wang Yilin has said the South China Sea forms a key part of achieving the company's ambitious goal to double its oil and gas production by 2020 and triple it by 2030 from the 2010 levels. Reuters