An Australian oil and gas explorer has been awarded a permit for 100% of the exploration rights for a block offshore China .
Empyrean Energy, based in Perth, Australia, had applied to the China National Offshore Oil Corporation for the permit.
The block is located in the Pearl River Mouth Basin, about 200kilometres south-east of Hong Kong.
It contains two existing exploration prospects, Jade and Topaz, and a further 10 leads have also been mapped.
Empyrean CEO Tom Kelly said the permit was a real coup for the business, which is listed on the London Stock Exchange.
He said: “The permit represents a fantastic opportunity for Empyrean, given its significant resource potential and the presence of two large and relatively mature drilling prospects, Jade and Topaz.
“Therefore, we look forward to advancing these, as well as additional targets identified, alongside Gaz Bisht, who has a very thorough understanding of the region via his previous extensive work in the region.”