Beibu Gulf projects gets go-ahead

Offshore staff

SYDNEY, Australia – Roc Oil (China) Co. says the final investment decision is approved for the Beibu Gulf project. The joint-venture partners and joint management committee have approved development of the WZ6-12 and WZ12-8 West oil fields in block 22/21, Beibu Gulf, South China Sea.

Participating interests in the Beibu Gulf project are CNOOC Ltd, 51%; Roc Oil (China) Co.,1 9.60%; Horizon Oil (Beibu) Ltd,. 14.70%; Petsec Petroleum LLC, 12.25%; and Oil Australia Pty Ltd (Majuko Corp) 2.45%.

02/14/2011