ConocoPhillips, CNOOC settle Bohai Bay fishery claims

Jan. 25, 2012
ConocoPhillips and the China National Offshore Oil Co. have agreed with China’s Ministry of Agriculture to resolve issues around the incidents at Peng Lai 19-3 field in Bohai Bay.

Offshore staff

HOUSTON –ConocoPhillips and the China National Offshore Oil Co. have agreed with China’s Ministry of Agriculture to resolve issues around the incidents at Peng Lai 19-3 field in Bohai Bay.

A payment of $160 million will go as compensation to settle public and private claims of potentially affected fishermen and Bay communities from the summer 2011 spill.

ConocoPhillips also will designate a portion of its $16-million environmental fund to improve fishery resources.

01/25/2012