BHP Petroleum (China) Inc. and Texaco Petroleum Mij. (Nederland) BV have signed a contract with China National Offshore Oil Corp. to explore for oil and natural gas on a block in East China's Bohai Bay. The agreement covers the 5,600 sq km Contract Area 11/19 in about 20 m of water about 185 km southeast of Tianjin. It is the second block awarded to the pair, which acquired exploration rights on Contract Area 06/17 last year (OGJ, Dec. 9, 1991, p. 32). Texaco and BHP each holds 50%
BHP Petroleum (China) Inc. and Texaco Petroleum Mij. (Nederland) BV have signed a contract with China National Offshore Oil Corp. to explore for oil and natural gas on a block in East China's Bohai Bay.
The agreement covers the 5,600 sq km Contract Area 11/19 in about 20 m of water about 185 km southeast of Tianjin. It is the second block awarded to the pair, which acquired exploration rights on Contract Area 06/17 last year (OGJ, Dec. 9, 1991, p. 32).
Texaco and BHP each holds 50% interest in both areas.
Operator BHP will work with Bohai Oil Corp. to implement the contract, and seismic surveys are to begin in mid-1992.
Copyright 1992 Oil & Gas Journal. All Rights Reserved.
