Beibu Gulf, WZ10-3W
| Asset overview - Beibu Gulf WZ10-3W Development | |||||||||||||||||||||||
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| Location |
Beibu Gulf, offshore China |
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| Operator |
Roc Oil (Bohai) Company |
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| JV partners and interests | |||||||||||||||||||||||
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WZ10-3W Development & Production |
WZ10-3W Exploration & Appraisal
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| CNOOC Limited | 40% | - | |||||||||||||||||||||
| Roc Oil (Bohai) Company | 35% | 58.3% | |||||||||||||||||||||
| Smart Oil Investment Limited | 25% | 41.7% | |||||||||||||||||||||
| Status |
The project has reached FID (Final Investment Decision) and entered into the development phase in April 2024. Development activities (e.g., construction of the production platform) are being carried out. |
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| History |
ROC signed a Petroleum Contract with CNOOC on 3 July 2018 to develop the Weizhou 10-3W oil field. ROC has a paying interest of 58.3% until FID is reached. The Petroleum Contract included exploration block 22/04, from which ROC withdrew in November 2022. Following data purchases in 2018, subsurface studies progressed, and the subsurface program passed CNOOC Limited experts' review in August 2019. An optimized subsurface program was accepted by CCLZ Experts in 1Q 2021. Following reviews with CCLZ Experts and CNOOC Experts in 2021, the development feasibility study program was approved in May 2022. The project completed the basic design in 2023. Following reviews with CCLZ Experts and CNOOC Experts, an Overall Development Plan (ODP) was prepared. The project reached FID by all JV partners and entered into the development phase in April 2024. Development activities such as construction of the production platform are being carried out, with the expected first oil in 1H 2026. |
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