Marine Link
Sunday, November 24, 2024

Cnooc - $29b S China Sea Exploration

Maritime Activity Reports, Inc.

November 25, 2008

According to a Nov. 24 Bloomberg report, Cnooc Ltd. and its partners may spend about $29b to develop fuel deposits in the South China Sea in the nation's biggest push to tap reserves off the coast. The investments between next year and 2020 include an estimated $2.2b by parent China National Offshore Oil Corp. to build deepwater drilling equipment.

(Source: Bloomberg)

Subscribe for
Maritime Reporter E-News

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week