Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Cnooc, Husky Plan to Accelerate Development of Liwan Project

Cnooc Ltd., China’s biggest offshore oil producer, and partner Husky Energy Inc. plan to accelerate the development of the Liwan project in the South China Sea.

The companies are “confident” about the natural gas project, Cnooc Chairman Wang Yilin said at the venue of the company’s annual general meeting in Hong Kong today. A meeting yesterday with billionaire Li Ka-Shing, the single-largest shareholder in Husky, was a visit to a key partner with whom a friendly relationship is in Cnooc’s best interests, Wang said.

Cnooc and Husky, a Canadian oil company, are exploring for gas in the South China Sea. The area in Liwan, about 300 kilometers (186 miles) southeast of Hong Kong, may hold China’s biggest offshore deposit, the government said in 2006.

Wang and Yang were seen meeting with Li at Hong Kong’s Cheung Kong Center, where Li’s office is located. Li owns a 69.4 percent stake in Husky.

Commercial operations at Liwan will start in the second half of 2013, Cnooc Vice-Chairman Yang Hua said today, declining to disclose the output target. It’s too early to say if gas from the area will be supplied to Hong Kong, Yang said.

Husky holds a 49 percent stake in Liwan, while Cnooc holds the rest. Husky will operate the deepwater portion of Liwan 3-1, including drilling and developing links to a shallow-water platform. Cnooc will operate the shallow-water platform, pipelines to the shore and an onshore gas-processing plant.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.