China Oilfield Services Ltd (COSL) (601808.SH), a subsidiary of China National Offshore Oil Corporation (CNOOC), has started drilling of an exploration well in 33/07 block of East China Sea for Primeline Energy Holdings Inc., said a latter in a release on Wednesday.
Named as LS23-1-1, the well is designed to have depth of 8,819 feet and drilling time of 30 days. Primeline Energy also plans to drill another exploration well in East China Sea. CNOOC would have the right to participate in 51 percent interests in possible commercial development of 33/07 block.
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