China News

 

IEA sees rising oil production, weaker demand into 2018

Jun 14, 2017

The International Energy Agency (IEA) anticipates the global oil market will remain oversupplied into 2018 due to rising US oil production and failure of some OPEC members to comply with production targets. According to IEA’s June market report…

Empyrean starts 3D survey off China

Jun 08, 2017

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…

MDT bags Dongfang compressor train work

May 16, 2017

Image of MAN’s standardized and modularized U-Pac. Image from MDT. CNOOC China’s Zhanjiang Branch has commissioned MAN Diesel & Turbo (MDT) to supply a total of six compressor trains…

DEME to build first LNG-fueled CSV

Apr 18, 2017

Wärtsilä will supply the engines and other propulsion machinery for what it says will be the first LNG-powered offshore construction vessel, being built at the Cosco shipyard in China for Belgium's Dredging International (DEME). 'This…

CNOOC CEO resigns

Apr 18, 2017

CNOOC CEO Yang Hua has resigned from his position effective today (18 April), with Yuan Guanguy taking the reigns. Yang, who was only CEO for less than one year at the company, will stay on as the chairman of the board. Yang was promoted…

China opens 22 blocks in 2017

Apr 17, 2017

China’s CNOOC is opening 22 blocks for bids to foreign companies this year. Map of the 22 open blocks, from CNOOC. The 22 blocks cover an area of 47,270sq km, and are available for cooperation between CNOOC and foreign companies…

Husky to drill off China

Apr 14, 2017

Canadian explorer Husky Energy has signed a production sharing contract (PSC) for a new exploration block offshore China. Block 16/25 is in the Pearl River Mouth Basin, about 150km southeast of Hong Kong. Husky expects to drill two exploration wells on the shallow water block during 2018…

BW Offshore, ICBCL ink FPSO partnership

Apr 07, 2017

BW Offshore (BWO) signed a cooperation agreement with ICBC Financial Leasing Co. Ltd. (ICBCL) to form a long-term strategic partnership that will see the duo take on large international infrastructure projects with a focus on floating production and storage offloading units (FPSOs)…

Pushing forward

Mar 01, 2017

Mexico’s energy reform has weathered both the storms of public scrutiny as well as the bad luck of launching during a global oil price downturn. Despite the challenges, Mexico has seen some modest success, but will it continue? Audrey Leon reports…

Waiting for the bright side

Mar 01, 2017

2016 was a year of huge challenges for the offshore drilling rig sector as the low oil price environment and reduced E&P spending continued to bite. Stephen Gordon, of Clarksons Research, charts the state of the market, which is arguably facing some of its toughest times since the 1980s…

Newfield divests Bohai stake

Feb 22, 2017

Newfield Exploration Co. signed a sales agreement with some of its joint venture partners to divest its non-operated 12% stake in the Bohai Bay field in China for approximately US$39 million. The deal is subject to customary regulatory approval…

South China Sea in Frogtech study

Feb 20, 2017

Australia's Frogtech Geoscience has released a new basement-focused study of the hydrocarbon-rich South China Sea and Gulf of Thailand; a geologically complex region. The study (South China Sea Seebase) includes new, terrane-based plate…

MFDevCo, COSL sign MOU over marginal field initiatives

Jan 26, 2017

UK-based MFDevCo, or Marginal Field Development Co., has agreed a collaboration deal with Singapore-based jackup drilling rig operator CDPL, a subsidiary of China Offshore Services Ltd. (COSL).  The move will see MFDevCO use CPDL on a 'one stop shop' basis…

CNOOC to drill 126 wells in 2017

Jan 19, 2017

China’s CNOOC has revealed its 2017 business strategy and development plan that includes a total of five new projects set to come onstream, and a capex that could reach US$10.2 billion (RMB 70 billion). Image from CNOOC…

Enping 23-1 oilfields starts production

Jan 17, 2017

China's CNOOC started production at its Enping 23-1 oil fields, in the Pearl River Mouth Basin of the South China Sea. The oil fields have an average water depth of approximately 90m, in which CNOOC holds 100% interest. There are currently three wells producing approximately 5600 b/d…

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