27-09-02 CNOOC plans to award 76,000 sq km of basically unexplored acreage in a new deepwater licensing round for the South China Sea. Foreign companies will be invited to apply for oil and gas exploration and development licenses on 12 virgin deepwater blocks in the South China Sea, located in water depths ranging from 304 mm (1,000ft) to 2,011 mm (6,600ft).

The award of acreage will be made to companies with a strong track record in deepwater exploration which, according to CNNOC, will partner with the national operator to tap China's un-exploited offshore potential.