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Chinanews, Beijing, Aug 31 – China National Offshore1 Oil Corporation (CNOOC), the largest offshore oil company, recently announced its ambitious oil exploitation plan at deep-sea areas. The company plans to invest 15 billion yuan to build a deep-sea oil fleet, the Beijing Morning Post reported.
“Building the oil fleet is only part of our plan to explore the oil resources in deep-sea areas,” said Zhou Shou, CNOOC vice2 general manager. China has an area of 700,000 square kilometers that lies 300-3,000 meters under the sea. This area, called the deep-sea area, has abundant supply of oil and mineral resources. The deep-sea area is a primitive3 place where the current oil exploration hasn't touched, Zhou said to this reporter. Oil experts predict that the oil resources stored in the deep-sea area could be 100 times the oil resources stored on land. However, in most of the deep-sea area, the oil resources have yet to be explored. For Zhou Shou, who has been working in the oil industry for many years, he really feels this is a pity. CNOOC has planned to carry out an oil exploration program at the deep-sea area in the South China Sea. The program will be kicked off at the end of October or in early November. Preparation work is now well under way, Zhou said. “If we want to explore oil resources 300 meters under the sea, we need to build some large equipment that is suitable for use at deep-sea areas. At present, the leasing fee of some deep-sea oil exploration vessels4 that can be used at 2,000-3,000 meters under the sea are very expensive: it can be to the tune5 of 400,000-500,000 US dollars a day. Even so, these deep-sea oil exploration vessels are hard to find,” Zhou said. “China should build its own deep-sea fleet and CNOOC has started to build some deep-sea oil exploration vessels that can be used at 3,000 meters below the sea. At the same time, CNOOC is working with a Norwegian company to rebuild some deep-sea vessels. Right now, these vessels can be used at 300 meters below the sea. After the renovation6, we hope that they can be used at 1,500 meters under the sea, ” Zhou said. In carrying out its deep-sea oil exploration plan, CNOOC will depend on itself to realize the goal. At the same time, it will also enter into some cooperation with international companies in this aspect. “In China's coastal7 regions, there are about 200,000 square kilometers of sea areas whose depth exceeds 300 meters. CNOOC aims to carry out cooperative projects with foreign companies in 70,000 square kilometers in these areas. For the rest of the deep-sea areas, CNOOC will do the deep-sea exploration all on its own, Zhou said.
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