CNOOC gets approval to seek Arctic oil
China National Offshore Oil Corp (CNOOC), the country’s largest offshore oil and gas developer, and its partners have been granted a new offshore license to look for oil in the Arctic.
Iceland’s national energy authority, Orkustofnun, granted the license in January, CNOOC said.
CNOOC has partnered with Iceland’s Eykon Energy for a license to explore for oil and gas in Arctic waters since last June.
CNOOC is the first Chinese firm licensed to look for oil in the Arctic, a landmark step for overseas energy exploration for the world’s second-largest economy.
CNOOC as the project’s major operator will have a 60 percent share, Iceland’s Eykon Energy 15 percent and Petoro Iceland 25 percent. (Photo 5)
Luo Jinshan, a migrant worker from Sichuan province, shows how to pilot a rotary-wing aircraft in Shanghai. Luo built the aircraft by himself over eight months at a cost of around 40,000 yuan ($6,580). He successfully tested it in January, traveling about 100 meters at a height of 1 meter.