Twists and turns in the East China Sea oil and gas development occurs suddenly withdrew from the She

    The East China Sea oil and gas exploration and development suffer setbacks. China National Offshore Oil Co. Ltd., China Petroleum & Chemical Corporation today jointly issued a statement outside: the two major oil companies Shell and Unocal had decided to withdraw from the West Lake in cooperation projects.
It is reported that as early as last August, CNOOC, Sinopec and Shell in the United States under the limited liability company Pecten Orient, the U.S. Unocal East China Sea Limited on the exploration, development and sale of the East China Sea region, natural gas, oil and condensate resources to achieve the a cooperation agreement and a contract signed in Beijing the five oil contracts area. The five contract blocks are located in the Xihu Trough, East China Sea, of which three contracts for the exploration area, two areas for the development of the contract.
In accordance with the original project cooperation agreement, CNOOC, Sinopec holds 30% of the project were interest, while Shell and Unocal has more than 20% of the project the interests of CNOOC as the above-mentioned five blocks operator. In this agreement, also clear that the signing of the expiry of one year after the foreign need to make a final investment decision to determine whether or not to participate in this project.
Mu Shu-Ling vice president of Sinopec, said: "Sinopec and CNOOC, Shell, Unocal has a good working relationship, the two foreign partners, the withdrawal of expressed regret, but we are the East China Sea natural gas resources development and utilization remain confident. "
CNOOC president, also this week the defensive, said: "We are confident in the East China Sea gas project, the project partners, the ongoing changes in the East China Sea gas project will not have impact."
This time of the Shell, Unocal move, in the CNOOC and Sinopec said in a statement released outside, in the development program has been carried out by Chinese and foreign sides have different opinions on the two oil companies for commercial interests to be considered and determined to quit.
Today, this reporter made a special trip to call the Unocal Corporation and Shell China Beijing Representative Office, would like to be further confirmed, but two things that the manager is responsible for external public not in the.
Gas ashore east China's Yangtze River Delta region will again be plenty of clean energy. Guo Xin, general manager of Gallup China analysts believe that such a very promising project, overseas big oil companies generally will not be "wrong horse" in advance to make careful scientific demonstrations. Immediately after forced to take "trump card", no more than demonstrate that the project appears significant "turning point."
Terms of cooperation projects on the West Lake, Guo Xin stressed that one is exploration risk; one is a potential return on investment; another one is the future market trend. These three factors played a factor in any new changes, can lead to making new foreign judgments and actions.
Nowadays the Yangtze River Delta region, particularly in Shanghai and other cities are building new oil and gas consumption structure, the future can give this big market of natural gas there will be "Natural Gas", "LNG" and "West Lake oil and gas fields." As a result, this will inevitably lead to intense product competition. According to report to judge the future development of this market variables may be This time there led to the withdrawal of foreign real reason