Hardware News
- CNOOC targets 16 new projects
Date: 2-Jan-2007 Sources: (Shenzhen Daily)
CHINA National Offshore Oil Corp. (CNOOC), the country's third-largest oil firm in terms of assets, aims to bring 16 new projects onstream this year, up from 13 this year, according to a statement released on its Web site.
CNOOC didn't specify the nature or location of these projects, but it did state that there would be a focus on the deepwater exploration and extraction of oil and natural gas reserves in the South China Sea. There are abundant reserves in the South China Sea, but few domestic firms have the necessary advanced technology for deepwater projects.
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