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| Introduction
Exploration History
Lishui 36-1 Gas Field Development
Lishui Gas Play
Block 25/34
Petroleum Contract
Dynamic Gas Market
Gas Agreement and Overall Development
Program
Reserve Report | The Petroleum Contract for Block 25/34 was signed by Primeline and PPC with CNOOC on 24th March 2005 and became effective on 1st May 2005. Block 25/34 originally comprised an area of 7,006 sq km in the East China Sea, about 110km offshore from the mainland, in water depth of 75m to 95m. The area has now been reduced to 5,221 sq km following relinquishment. Primeline has an existing gas discovery, Lishui 36-1, within the Block and is the only foreign company that has made a gas discovery in the East China Sea basin.
Following execution of an agreement in principle for the sale of the gas from the discovery in October 2008, Primeline and CNOOC completed an overall development program for Lishui 36-1 and are now proceeding with the development of the Lishui 36-1 gas field.
Primeline is continuing to explore for additional hydrocarbon resources near the discovery and in the remainder of Block 25/34. Primeline is currently implementing a rolling development programme and in 2010 discovered additional gas at LS35-3 near the Lishui 36-1 gas field.
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