Geology
- Stacked reservoirs system, ranging in age from Palaeozoic to Tertiary. Reservoir quality is good to excellent.
- The source rock is rich and generative.
- The Block is extremely oil prone, and oil is generally found wherever a suitable trap exists.
Regional activity
The Block is part of a prolific producing oil province.
Permit size
Zhao Dong Block: 27.5 sq km (6.7sq km net to ROC)
Zhanghai Block: 16 sq km (6.4 sq km net to ROC)
Chenghai Block: 26 sq km (10.4 sq km net to ROC)
Bohai 09/05 Block: 335 sq km (ROC 100%)
History
- ROC acquired a 24.5% operated interest in the offshore Zhao Dong Block in 2006 via the acquisition of 100% of the shares of Apache China Corporation LDC. The Zhao Dong Block, located in shallow water close to the shore in Bohai Bay, contains three producing oil fields, C, D and the unitised C4 Field.
- The existing Zhao Dong Block Contract was modified in March 2011 to include the adjoining Zhanghai and Chenghai Blocks with the aim of commercialising previous near field discoveries in the area and encouraging further exploration activity.
- ROC was awarded a 100% operated interest in a new exploration block on 11 May 2012, the Bohai 09/05 Block, offshore Bohai.
JV participants and interests
| |
Zhao Dong Block |
Zhanghai and Chenghai Blocks |
Bohai 09/05 Block |
| |
Exploration Interest |
Development Interest
(including C & D fields) |
Unitised interest in C4 field |
|
|
| Roc Oil (Bohai) Company (Operator) |
50.0% |
24.5% |
11.575% |
39.2% ** |
100% *** |
| PetroChina Company Limited |
- |
51.0% |
76.850% |
51.0% * |
- |
| New XCL-China LLC |
50.0% |
24.5% |
11.575% |
9.8% |
- |
* PetroChina Company Limited exercised option to back in for 51% on any future commercial development following the successful drilling of H-1 effective 12 August 2011.
** ROC has an 80% cost obligation on a dry hole basis for the drilling of a second appraisal well during 2012.
*** CNOOC has the right to participate in up to 51% of any development.