Address
P.O.Box 4705,
No.6, Dongzhimenwai Xiaojie Beijin
100027
PR China
http://www.cnooc.com.cn
Telephone
010 845 21010
Fax
010 646 02600
Email
webmaster@cnooc.com.cn
Description
Incorporated in Hong Kong in August 1999, CNOOC Limited is the dominant producer of crude oil and natural gas offshore China. CNOOC Limited is also one of the largest independent crude oil and gas exploration and production companies in the world.
CNOOC Limited, incorporated in Hong Kong, is a 70.6% held subsidiary of China National Offshore Oil Corporation (CNOOC). CNOOC Limited is the sole vehicle through which CNOOC carries out oil and gas exploration, development, production and selling activities offshore China and internationally.
CNOOC, the parent company, is involved in the administrative, research, and services functions for the China offshore petroleum industry as well as other mid- or downstream petroleum projects.
Background
In the past twenty years, a series of sedimentary basins rich in hydrocarbon potential have been discovered in Offshore China areas. They cover a total area of nearly one million square kilometers. These sedimentary basins from north to south consist of Bohai Basin, North Yellow Sea Basin, South Yellow Sea Basin, East China Sea Basin, Okinawa Trough Basin, West Taiwan Basin, Southwest Taiwan Basin, East Taiwan Basin, Pearl River Mouth Basin, Beibu Bay Basin, Yinggehai-Qiongdongnan Basin and basins in the southern part of South China Sea.
Oil and gas exploration in offshore China mainly focuses on Bohai Bay, Yellow Sea, East China Sea and the northern continental shelf of South China Sea, where hydrocarbon resource potential reaches 27.53 billion tons of oil and 10.6 BCM of natural gas as predicted, while discovery rate there is only 18.5% and 9.2% for oil and gas respectively.