China invites global bids for South China Sea blocks


China has extended an invitation to international oil companies to bid for offshore blocks in the South China Sea.
In a statement the China National Offshore Oil Company (CNOOC) said that this year 22 open blocks, covering an area of 47,270sqkm were available for cooperation between CNOOC and foreign companies.
CNOOC added that the data room for interested bidders interested in purchasing data on the available blocks will be opened until June 15, 2017.
However, the foreign companies which are set to work in conjunction with CNOOC for the first time will be required to provide relevant qualification review documents, such as certificate of incorporation, company organization framework, financial statements and proof of upstream exploitation experience, before being given access to the data room.
The tender closes on September 15, 2017.


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