Ref. DEA 18 May â18, CNOOC announced on Friday the signature of PSCs for blocks 22/11 + 23/07 in the Beibu Gulf, South China Sea. Block 22/11 covers 1,663 sq km in WD 40-80m and 23/07Â  1,210 sq km in WD 20-4 m. Husky will operate during the explo phase, CNOOC as customary has the right to take over with 51% in the event of a commercial find.
Husky signed PSC with CNOOC for blocks 22/11(1663kmÂ²) and 23/07 (1210kmÂ²) in the area of the South China Sea. Husky will operate the PSCs during the exploration phase, with its Chinese partner holding the right to take up a 51% stake later.