Roc Oil spudded its first exploration well in Block 09/05 of Bohai Bay, offshore China’s northeast coast. The well will be drilled to a depth of 4000 m and sits at a water depth of 5 to 15 m. Roc was awarded 100% interest in the block by China National Offshore Oil Corporation (CNOOC) but has agreed to farm out 40% to AWE China for USD 2 million cash for past costs, 60% of the first exploration well costs, and 54% of the second exploration well costs.
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