Husky pulls out of Wenchang fields in South China Sea

Canadian independent Husky Energy has withdrawn from two Wenchang oil-producing fields in the South China Sea's Beibu Gulf, surrendering its stakes to partner CNOOC Ltd.

A CNOOC spokesperson told Upstream that Husky's departure is based on the terms of the PSC, in which it held stakes of 40%.

CNOOC’s contract signed with Husky in 2000 to develop the Wenchang 13-1 and 13-2 fields ended last week and Husky has given up its stakes in the two fields.