China National Offshore Oil Corporation

Drilling commenced on WZ12-10-1—the first of two exploration wells planned for Beibu Gulf Block 22/12, located in the South China Sea. The well will be drilled to a total vertical depth of 1539 m, in approximately 35 m of water. WZ12-10-1 is targeting the T42 and Weizhou West formations and is adjacent to the WZ12-8 East field of the WZ12-8 development area. Production and development participating interests are China National Offshore Oil Corporation (51%), Horizon Oil (Beibu) and Petsec Petroleum (26.95%), Roc Oil (China) (19.6%), and Oil Australia (2.45%).


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