China National Offshore Oil Corporation (CNOOC), the country’s leading offshore operator, is launching a massive deep-water drilling campaign in the western part of the South China Sea, aiming to confirm 200 billion cubic metres of proven reserves in the sea area by 2020.
Sources said the company’s local exploration and production outfit CNOOC Zhanjiang has lined up a plan to drill 34 deep-water wells between 2016 and 2020, averaging seven wells per annum.
“CNOOC
