Newfield Exploration seeks China sale this year

摘要

Singapore—US independent Newfield Exploration expects to complete the planned divestment of its upstream projects offshore China later this year, pending repairs to rig facilities at its Pearl project in China’s Pearl River Mouth Basin. The China divestment has been delayed by a malfunction at a hydraulic jacking system which delayed the installation of topside facilities at the LF-7 field in block 16/05. Newfield management said last week underwater repairs to the damaged jacket have been completed while above-water repairs are currently being finalized.