Oil exploration projects in the South China Sea
US firms may join CNOOC oil plans
US companies may bid for oil exploration projects in the South China Sea, China’s largest offshore oil explorer, China National Offshore Oil Corp, said on Tuesday.
“US companies are displaying interest in bidding for the oil and gas projects, which have been progressing as scheduled,” CNOOC Chairman Wang Yilin said on the sidelines of the China-US Enterprises Investment and Cooperation Forum.
CNOOC, China’s third-largest oil company, last month issued tenders seeking joint exploitation of nine offshore blocks in the South China Sea.
The nine blocks cover more than 160,000 square kilometers and are 300-4,000 meters deep, according to a statement on CNOOC’s website.