Greater China

Noble Energy looks to offload Bohai oilfield stake

Dalian: Texas-based Noble Energy is looking to offload its majority stake in an oilfield in the south of Bohai bay. Noble owns a 57% stake in the shallowwater Chengdaoxi field with Sinopec owning the remainder. The 25ft deep field is producing around 4,000 barrels of crude oil a day and has proven reserves of around 7m barrels. The oilfield has been in production for a decade and despite declining output there are reported to be a number of interested buyers.  [03/03/14]

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