Posted on 06/15/2010 4:44:57 PM PDT by combat_boots
Jun. 10, 2010 (China Knowledge) - CNOOC Ltd<0883>, the largest offshore oil producer in China and a subsidiary of China National Offshore Oil Corp, is expected to start the production of its first deep water rig in the fourth quarter of this year, Chen Bi, vice executive president of CNOOC, said on Tuesday.
The deep water rig, which is still under construction in Shanghai, is capable of running operations in the 3,000-meter depth water.
A CNOOC executive said in December last year that the company plans to start deep water oil and gas exploration in the South China Sea sometime in 2010.
CNOOC will team up with its foreign partners to conduct the preliminary drilling operation in the water-depth between 1,500 meters and 1,800 meters. CNOOC's exploration partners in the South China Sea include Devon Energy Co and BG Group Plc.
The South China Sea is one of the most important natural gas and oil production bases for CNOOC.
(Excerpt) Read more at chinaknowledge.com ...
Yeah, off the coast of Cuba, which I believe is in the Gulf.
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