Regulations of the People's Republic of China on Sino-Foreign Cooperative Offshore Petroleum Resources Exploitation (Revised in 2011)
Regulations of the People's Republic of China on Sino-Foreign Cooperative Offshore Petroleum Resources Exploitation (Revised in 2011)
Regulations of the People's Republic of China on Sino-Foreign Cooperative Offshore Petroleum Resources Exploitation (Revised in 2011)
Order of the State Council No.588
January 8, 2011
(Promulgated by the State Council on January 30, 1982; and revised for the first time according to the Decision of the State Council on Amending the Regulations of the People's Republic of China Concerning the Exploitation of Offshore Petroleum Resources in Cooperation with Foreign Enterprises on September 23, 2001; and revised for the second time according to the Decisions of the State Council on Repealing and Amending Certain Administrative Regulations on January 8 ,2011)
Chapter I General Rules
Article 1 For the purpose of promoting the development of the national economy and expanding international economic and technological cooperation, these Regulations have been formulated to allow foreign enterprises to participate in the cooperative exploitation of the offshore petroleum resources of the People's Republic of China on the basis that China's national sovereignty and economic interests are maintained.
Article 2 All petroleum resources in the internal waters, territorial seas and continental shelf of the People's Republic of China, in addition to other petroleum resources in all maritime areas falling within the national maritime jurisdiction of the People's Republic of China, belong to the People's Republic of China.
In maritime areas referred to in the preceding paragraph, all established buildings and structures and operating vessels for the exploitation of petroleum, as well as the corresponding onshore oil (gas) terminals and base facilities, shall be governed by the People's Republic of China.
Article 3 The Chinese Government shall protect, according to law, the investments of foreign enterprises that take part in the cooperative exploitation of offshore petroleum resources, their profits and their other lawful rights and interests, and shall protect the cooperative exploitation activities of foreign enterprises in accordance with the law. All activities for the cooperative exploitation of offshore petroleum resources carried out within the scope of these Regulations shall be conducted in accordance with the laws and decrees of the People's Republic of China and the relevant provisions of the State; any individual or enterprise that participates in petroleum activities shall be subject to the laws of China and shall accept the oversight and supervision of the competent authorities concerned under the Chinese Government.
Article 4 The State shall not requisition the investments or income of foreign enterprises that take part in the cooperative exploitation of offshore petroleum resources. Nevertheless, in special circumstances, where the public interest requires that it do so, the State may requisition part or all of the petroleum belonging to foreign enterprises involved in cooperative exploitation activities in accordance with applicable legal procedures, and shall compensate the relevant parties appropriately.
Article 5 The department appointed by the State Council shall determine the various forms of cooperation and demarcate the geographical areas of cooperation into maritime zones and fields designated by the State; it shall prepare a plan for the exploitation of offshore petroleum resources in cooperation with foreign enterprises in accordance with the state provisions, formulate policies for operating and managing the cooperative exploitation of offshore petroleum resources, and examine and approve the overall development scheme for offshore oil (gas) fields.
Article 6 The China National Offshore Oil Corporation (CNOOC) shall take overall responsibility for the work involved in the exploitation of offshore petroleum resources in the People's Republic of China in cooperation with foreign enterprises.
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Order of the State Council No.588
January 8, 2011
(Promulgated by the State Council on January 30, 1982; and revised for the first time according to the Decision of the State Council on Amending the Regulations of the People's Republic of China Concerning the Exploitation of Offshore Petroleum Resources in Cooperation with Foreign Enterprises on September 23, 2001; and revised for the second time according to the Decisions of the State Council on Repealing and Amending Certain Administrative Regulations on January 8 ,2011)
Chapter I General Rules
Article 1 For the purpose of promoting the development of the national economy and expanding international economic and technological cooperation, these Regulations have been formulated to allow foreign enterprises to participate in the cooperative exploitation of the offshore petroleum resources of the People's Republic of China on the basis that China's national sovereignty and economic interests are maintained.
Article 2 All petroleum resources in the internal waters, territorial seas and continental shelf of the People's Republic of China, in addition to other petroleum resources in all maritime areas falling within the national maritime jurisdiction of the People's Republic of China, belong to the People's Republic of China.
In maritime areas referred to in the preceding paragraph, all established buildings and structures and operating vessels for the exploitation of petroleum, as well as the corresponding onshore oil (gas) terminals and base facilities, shall be governed by the People's Republic of China.
Article 3 The Chinese Government shall protect, according to law, the investments of foreign enterprises that take part in the cooperative exploitation of offshore petroleum resources, their profits and their other lawful rights and interests, and shall protect the cooperative exploitation activities of foreign enterprises in accordance with the law. All activities for the cooperative exploitation of offshore petroleum resources carried out within the scope of these Regulations shall be conducted in accordance with the laws and decrees of the People's Republic of China and the relevant provisions of the State; any individual or enterprise that participates in petroleum activities shall be subject to the laws of China and shall accept the oversight and supervision of the competent authorities concerned under the Chinese Government.
Article 4 The State shall not requisition the investments or income of foreign enterprises that take part in the cooperative exploitation of offshore petroleum resources. Nevertheless, in special circumstances, where the public interest requires that it do so, the State may requisition part or all of the petroleum belonging to foreign enterprises involved in cooperative exploitation activities in accordance with applicable legal procedures, and shall compensate the relevant parties appropriately.
Article 5 The department appointed by the State Council shall determine the various forms of cooperation and demarcate the geographical areas of cooperation into maritime zones and fields designated by the State; it shall prepare a plan for the exploitation of offshore petroleum resources in cooperation with foreign enterprises in accordance with the state provisions, formulate policies for operating and managing the cooperative exploitation of offshore petroleum resources, and examine and approve the overall development scheme for offshore oil (gas) fields.
Article 6 The China National Offshore Oil Corporation (CNOOC) shall take overall responsibility for the work involved in the exploitation of offshore petroleum resources in the People's Republic of China in cooperation with foreign enterprises.
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