After acquiring Shell’s final properties in Gabon in 2019, China National Offshore Oil Corporation (CNOOC), China’s third-largest national oil corporation after CNPC and China Petrochemical Corporation, announced its intention to invest $30 million in hydrocarbon research and local oil exploration.

The company announced on Tuesday, June 22nd, that it is searching for investors to help drill oil wells in Gabon and Senegal.

CNOOC acquired the assets of the Anglo-Dutch multinational Shell in Gabon two years ago, according to Le Nouveau Gabon. The Chinese group and the Gabonese State initialled two revisions to the exploration and production sharing contracts (CEPP) that previously tied Shell and its partner, CNOOC International, to the Gabonese side on November 26, 2019, through its African subsidiary, CNOOC Africa Holding.

An excerpt from CNOOC’s statement read: “CNOOC International invites interested parties with technical, financial and operational capabilities to participate in its international public prequalification process for tenders for its integrated drilling services in support of exploration drilling in Gabon and Senegal, or both.”

“Integrated drilling services include: directional drilling, drilling fluids, cement, wireframe and mud trailing. All suppliers interested in participating in this prequalification process must notify the Company by written notification no later than June 28, 2021.”