The block 30/27 lies 400km off the coast of Hong Kong with a total area of 5,130².
Under the terms of the contract, Eni will conduct 3D seismic survey and drill one exploration well in Block 30/27.
All expenditures incurred during the exploration period will be borne by Eni.
CNOOC Limited has the right to participate in up to 51% working interest in any commercial discoveries in the block.
Eni also has equity interest in Blocks 16/08 and 16/19 located in the South China Sea and is the operator in Block 28/20.
