CNOOC and Shell to study gas development in Bohai Bay
News - October 4, 2001
CNOOC Limited has announced that it has signed a Joint Study Agreement with Shell Exploration China Limited to examine options and plans for developing oil and gas reserves in the Bonan Block of Bohai Bay.The Bonan Block consists of several oil and gas fields. Two key structures, Bozhong 26-2 and Bozhong 28-1, and the other three fields hold a recoverable reserve of more than 160 million barrels of liquid and around 300 billion cubic feet of associated natural gas. The Block is close to several metropolitan areas of Shangdong Province.
Under the terms of the agreement, CNOOC and Shell will focus on how best to commercialise natural gas reserves contained in the block.
The study is a part of strategic alliance between Shell and CNOOC that focuses on gas market development in coastal regions of China.
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