Business / Companies

CNOOC opens 26 offshore blocks for cooperation

(Xinhua) Updated: 2012-08-29 10:04

BEIJING -- China National Offshore Oil Corp, the country's largest oil and gas producer, said on Tuesday it has opened 26 new offshore blocks for cooperation with foreign companies.

The blocks were the second batch made available by CNOOC for cooperation, with one block located in Bohai Bay, three in the east China Sea, and another 22 in the South China Sea, according to a statement on CNOOC's website.

The 26 blocks cover a total area of 73,754 square km, the statement said.

It also said that foreign companies may access data concerning the blocks after applying. Data will be available for viewing until November 30.

In June, CNOOC opened a total area of 160,124 square km as its first batch of offshore blocks in the South China Sea for cooperation.

According to the semiannual report of CNOOC Ltd, the company is aiming to meet a production target of between 330 million and 340 million barrels of oil equivalent this year. Production in the first half totaled 160.9 million barrels, down 4.6 percent year-on-year.

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