Empyrean Energy has started a 3D seismic survey on its 100% owned Block 29/11, offshore China.
Block 29/11 is about 1800sq km and is situated some 200km south-southeast of Hong Kong in 340-600m water depth.
Empyrean has contracted China Oilfield Services Ltd. (COSL) to complete the survey, which will cover an area of approximately 580sq km. The shoot is expected to take approximately 40 days. The data acquired will then be processed and interpreted, which will take about 90 days.
The survey will cover a number of exciting leads and prospects that have previously been identified on 2D seismic by Ameco Corp. (now part of BP) and CNOOC on Block 29/11. These include Jade and Topaz, two significant prospects that the company believes will benefit from the current 3D seismic program.
Empyrean says the survey will also include the acquisition of 3D seismic over recent discoveries immediately to the west of Block 29/11. This cooperation between Empyrean and CNOOC is designed to greatly enhance both parties' technical understanding of the producing formations in the region and, specifically, over the areal extent of the survey.
Empyrean has a 100% working interest in Block 29/11 during the geophysical survey agreement period. Once the company has signed a production sharing contract with CNOOC, CNOOC will have a back-in right to a 51% interest in the license in the event of a commercial discovery.