Primeline, CNOOC to prepare Lishui development plan

Primeline Energy Holdings has entered into a technical services contract with CNOOC Research for the preparation of the overall development plan (ODP) for the Lishui 36-1 discovery on block 25/34 in the East China Sea.

Offshore staff

LONDON -- Primeline Energy Holdings has entered into a technical services contract with CNOOC Research for the preparation of the overall development plan (ODP) for the Lishui 36-1 discovery on block 25/34 in the East China Sea.

The total budget for the ODP is estimated to be $5.5 million which includes the agreed lump sum cost for the work to be undertaken by CNOOC Research and CNOOC China Ltd-Shanghai, and the costs of the third-party studies and surveys.

The companies expect the ODP work to take six to eight months, subject to survey work progress. It is currently estimated that the ODP will be submitted to Primeline and CNOOC for approval in August before submission to the appropriate Chinese State authorities.

As part of the ODP, Primeline and CNOOC have been working with the Wenzhou Municipal Authority to secure the land for the offshore pipeline landing point and gas processing terminal.

02/12/2009

More in Company News