China’s largest state-run oil firm has opened 26 new offshore blocks for cooperation with foreign companies, which included those in South China Sea, where the country is locked in a dispute with Vietnam over sovereignty.
China National Offshore Oil Corp (CNOOC) today said it has opened 26 new offshore blocks for cooperation with foreign companies.
The blocks were the second batch made available by CNOOC for cooperation, with one block located in Bohai Bay, three in the East China Sea and another 22 in the South China Sea, official Xinhua news agency reported quoting a statement from CNOOC.
The 26 blocks cover a total area of 73,754 square km, the statement said.
It also said that foreign companies may access data concerning the blocks after applying. Data will be available for viewing until November 30.
In June, CNOOC opened a total area of 160,124 square km as its first batch of offshore blocks in the South China Sea for cooperation.
Vietnam, which claims sovereignty in the same area of the South China Sea has already termed CNOOC’s action as illegal when the oil company has announced for the first time its plans to allot some blocks for exploration in June.
The Vietnamese Foreign Ministry said the move was “illegal” and a serious “violation of Vietnam’s sovereignty” adding that the oil blocks were “deep inside Vietnam’s exclusive economic zone and not a contested area“.
Earlier China had protested to India over ONGC taking up oil exploration in the blocks claimed by Vietnam. India, however, said it is a commercial deal.
According to CNOOC report the company is aiming to meet a production target of between 330 million and 340 million barrels of oil equivalent this year.
Production in the first half totalled 160.9 million barrels, down 4.6 per cent year on year, it said.