In order to keep up with China’s rising demand for energy, the country’s biggest offshore oil explorer, Cnooc Ltd., may double its crude oil and natural gas production in the western part of the South China Sea.
Bloomberg: A number of foreign companies have shown “immense” interest in joining Cnooc’s bid to develop deepwater blocks in the region, Xie Luhong, head of the Cnooc unit, told reporters in Zhanjiang in Guangdong province Dec. 4.
Cnooc plans to work with foreign partners to drill the first deepwater wells in the area next year, Xie said, without naming the companies.
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