China News

 

COSL to drill for Primeline in East China Sea

Jul 27, 2015

Primeline Energy has contracted China Oilfield Service Co. (COSL) as drilling contractor for its Block 33/07 exploration program in the East China Sea. Primeline says the rig market has proved favorable with good availability of suitable rigs and competitive prices…

Shangdong, Northern deal goes ahead

Jul 16, 2015

The shareholders of Norwegian driller Northern Offshore approved a takeover deal by China's Shangdong Offshore. The acquisition will be done by amalgamation according to the law of Bermuda for US$0.96 per share, valuing Northern at $164…

Global seismic vessel roundup

Jul 07, 2015

Seismic vessels are the lifeblood of global offshore exploration efforts. Jeannie Stell searches for bright spots in the current global market of seismic vessel activity.  The Sanco Sword. From Dolphin Geophysical…

MacGregor cranes for liftboats

Jul 07, 2015

MacGregor, part of Cargotec, has won contracts for its new lattice boom cranes (LBC) from Merkers Offshore, successfully negotiated and procured through Marine Commerce in Singapore. Four 20015-6045 LBC cranes will be installed on two…

CNOOC starts Bozhong 28/34

Jun 30, 2015

CNOOC began production at its Bozhong 28/34 oilfields offshore China. The Bozhong 28/34 oilfields are located in Bohai Bay with an average water depth of approximately 22m. The project consists of three sub-projects, namely Bozhong 28-2S oilfields comprehensive adjustment project…

Petrobras scandal reaches Asia

Jun 25, 2015

The Petrobras Lava Jato (Car Wash) scandal is hitting Asia this week, as the names of two Singaporean shipbuilders are coming back into play for allegedly being linked to one of the largest oil and gas bribery and corruption waves to hit South America…

Baoham Offshore gets new vessels

Jun 17, 2015

Baoham Offshore (HK) Ltd. will acquire new vessels for its fleet, including a newbuild semisubmersible and liftboat, reports the American Bureau of Shipping. Baoham selected ABS to provide classification services for the newbuilds in China…

CNOOC’s Dongfang1-1 onstream

Jun 11, 2015

China National Offshore Oil Corp. (CNOOC) commenced production at the Dongfang1-1 gas field Phase I adjustment project ahead of schedule, in the South China Sea. Image from CNOOC. The…

Picking up wind

Jun 01, 2015

About US$336 billion (€300 billion) could be spent in offshore wind capex over the next 10 years, with cumulative capacity surpassing 57GW. Douglas Westwood’s Rachel Stonehouse explains. Cumulative offshore wind capacity is forecast to reach 57GW by 2024…

CNOOC in eastern South China Sea find

May 27, 2015

China National Offshore Oil Corp. (CNOOC) discovered a mid-sized oil find at Liuhua 20-2 in the eastern South China Sea. Oil was found at the LH20-2-1 well, located at the Liuhua 20-2 structure in Northern Slope Belt of Baiyun Sag in…

Petrobras gets billions from China

May 20, 2015

Petróleo Brasileiro (Petrobras) confirms that it signed a US multi-billion dollar cooperation agreement with China Development Bank Corp. (CDB). Funding will be for years 2015 and 2016, which includes US$3.5 billion, already disbursed…

CNOOC appoints new chair

May 19, 2015

Yang Hua has been appointed as chairman of the board and chairman of the nomination committee of CNOOC.  This appointment followed the resignation of Wang Yilin from his positions at CNOOC as chairman of the board, chairman of the nomination committee and non-executive director of CNOOC…

Mayer Brown: How to survive low oil prices

May 13, 2015

With West Texas Intermediate trading at US$60.13/bbl and NYME natural gas set at $2.94/MMBtu, hydrocarbon producers are looking for ways and means to survive the low price environment. Some of those that are best weathering the storm are those that made specific choices before the fall…

OTC15: China emerging

May 06, 2015

At an industry breakfast organized by OTC and the US Department of Commerce, experts said China was chosen as topic of discussion because of its emerging oil and gas business investment opportunities. OTC…

Offshore heavy oil economics

May 01, 2015

Jeannie Stell looks at offshore heavy oil development economics with an eye on the current low-price environment. ExxonMobil expects its 52-well Hebron development project offshore Newfoundland to bring in first oil in 2017…

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