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Zhanjiang gov't, CNOOC combine efforts for Zhanjiang's first oilfield
Updated: 2017-04-26
Construction of a Wushi oilfield complex in the South China Sea's shallow western waters is expected to begin this October and to be co-developed by the Zhanjiang government and China National Offshore Oil Corporation (CNOOC).
The project was stipulated in the strategic agreement signed between the two sides on April 24, which also included further cooperation in the extension of oil and gas industry chains and clean energy usage.
CNOOC is the largest offshore oil & gas producer in China and enjoys a long-term strategic partnership with the coastal city of Zhanjiang in South China.
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The Zhanjiang government signs a strategic agreement with China National Offshore Oil Corporation (CNOOC) on April 24 to co-develop the Wushi oilfield complex. The project is expected to break ground this October. [Photo by Lang Shuchen/Zhanjiang.gov.cn] |
The company has allocated 63 billion yuan ($9.2 billion) for projects around Zhanjiang during the 13th Five-Year Plan period (2016-20) which includes the Wushi 17-2 in Wushi Sag. The project is the first oilfield under Zhanjiang's administration and also Guangdong's first offshore oil and gas field in shallow waters.
The first phased technical proposal has passed review while environmental impact assessment is awaiting national government's approval.
Zhanjiang Party Secretary Zheng Renhao invited efforts from CNOOC to build the city into a strategic base for oil exploration in the South China Sea and promised supporting facilities and better services.
Jiang Jianjun, acting mayor of Zhanjiang said he hoped CNOOC will take advantage of the city's pivotal role in the national Belt and Road Initiative to further develop resources as well as supply stable clean energy to local residents.
Yang Hua, chairman of the board of CNOOC, thanked the Zhanjiang municipal Party committee and government for their support, promising that the company will make more contributions to the city's industrial upgrading and green development.