CNOOC, Husky to Accelerate Liwan Natural Gas Project

CNOOC Ltd. and partner Husky Energy Inc. are keen to speed up development work of Liwan natural gas project in the South China Sea, Bloomberg reported.

The two companies are exploring for gas in Liwan, which may hold China’s biggest offshore deposit, according to Chinese government estimates.

Commercial operations at Liwan will start in the second half of 2013, Bloomberg reported citing Cnooc Vice-Chairman Yang Hua. He declined to specify the quantity.

Husky holds a 49 percent stake in Liwan, while CNOOC holds the rest.