CNOOC unveils offshore tender

China

BEIJING, April 13, 2017 – China National Offshore Oil Corporation (CNOOC) on Wednesday debuted a tender for 22 offshore blocks in the South China Sea, covering an area of 47,270 square kilometres.

According to CNOOC, four blocks are located in Beibuwan Bay, with another two in the western section of the Pearl River Mouth basin. The majority of the acreage, 16 blocks, lies in the eastern sector of the basin.

Due to the blocks’ proximity to Chinese mainland, analysts believe the assets will attract foreign interest.

“The blocks open for bidding are less sensitive compared with other areas in the South China Sea in that they are mainly in the Pearl River Mouth Basin, which is close to China’s coastline,” energy expert Han Xiaoping was quoted as saying by local media.

The offshore tender will remain open until September 15.