AWE acquires interest in Chinese block

www.energyglobal.com, 20 Aug 2014 16:34

Energy Global reports that AWE Limited has signed a farm-in agreement to acquire a 40% working interest in Block 09/05, offshore Bohai Basin, China, from a subsidiary of ROC Oil Company Limited. The block is located in the western part of the Bohai Bay Basin in China, approximately 10 km southeast of Tanggu, the largest port in China. The block covers an area of 335 km2, with water depths from approximately 5 – 10 m. It also has the benefit of low drill and development costs, proximity to existing infrastructure and attractive fiscal terms.

 

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