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Exploration and production
China: Husky doubles offshore acreage following Liwan gas strike
HUSKY Energy has stepped up its exploration efforts in the country just a couple of months after making what could be the largest gas find ever offshore China. The Canadian firm has acquired three new blocks in the South China Sea – including one adjacent to the Liwan 3-1-1 discovery area – covering a total acreage of more than 16,000 square km. The new acreage effectively doubles Husky's position in the country. The first new block 29/06, in the Pearl River Mouth Basin, sits next to the discovery block 29/26, where the Liwan 3-1-1 well was drilled in June. Initial studies point to a potential of 4-6 trillion cubic feet of reserves, which would make it one of China's largest offshore gasfields to date. Husky holds a 100% stake in the discovery block as well as the three new permits, although state-owned China National Offshore Oil Corporation (CNOOC) has a 51% ...Click here to continue reading Exploration and production
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