The company has selected an initial prospect and has secured drilling rig services. It hopes to start the campaign during the current quarter.
However, Horizon Oil has decided not to exercise its option to farm into the block, leaving ROC to seek other farm-in partners.
At theZhao Dong oil fields in Bohai Bay, production has been averaging 16,239 b/d.
PetroChina intends to assume operatorship ofZhao Dong in 2Q 2015, and ROC has been asked to assist in the handover. Post-transition ROC will continue to be a full partner, assisting PetroChina with maximizing hydrocarbon recovery from Zhao Dong and other prospects in the area.