First exports come just as world prices are at historic high following Russia’s invasion of Ukraine.
China National Offshore Oil Corporation and China National Oil & Gas Exploration & Development eye 11 areas up for bidding.
Oil price averages US$113 per barrel, with 1,139 million barrels exported daily; China imports more than 54% of total output.
New field expected to produce 30,000 barrels daily, drawing on an estimated reserve of 44 million barrels.
