Chinese state-run oil producer CNOOC has launched a tender for foreign firms to bid on 25 oil and gas blocks in the East and South China seas.
The move, which could potentially net billions for the company, is looking to bring in foreign oil partners for the projects.
However, the company said none of the blocks being offered in the round were in disputed waters, after Vietnam objected to CNOOC’s tender round in June over disputed territory.
The blocks include 17 in the South China Sea, three in East Chinese waters and five others around the Yellow Sea.
CNOOC, which is also looking at a $5billion gas development project in the East China Sea, aims to double oil and gas production by the end of the decade.
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