CNOOC Limited announced today the successful start-up of its independent oil field Qinhuangdao (QHD) 33-1. Currently, it is producing approximately 2000 barrels of oil per day via two wells. QHD33-1 is located in the central to western Bohai Bay with a water depth of about 21 meters.
The development and production of QHD33-1 mainly rely on [...]

Chevron Corporation yesterday announced the extension and amendment of its agreement with the Kingdom of Saudi Arabia. This agreement grants Chevron the right to operate on behalf of the Saudi government for its 50 percent undivided interest in the petroleum resources of the onshore area of the Partitioned Neutral Zone (PNZ) between the Kingdom and [...]