China's CNOOC Ltd is ready to start development of several marginal oil and gas fields in the South China Sea and Bohai Bay, including the Wushi complex, in the wake of the improved oil price.
CNOOC Ltd officials said there are more than two dozen marginal fields in the two offshore regions.
The South China Sea alone holds up to 12 marginal fields located in water depths between 100 and 400 metres.
