China: CNOOC to invest 15 bln yuan to build deep-sea vessel

Chinanews, Beijing, Aug 31
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 primitive 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.