The recorded China¡¯s 208 Offshore Oilfields, Gasfields with Commercialized Condensate and Oil-bearing structures are discovered in Bohai Bay Basin, East China Sea Basin, West Taiwan Basin, South Taiwan Basin, Pearl River Mouth Basin, Beibu Gulf Basin, South Hainan Basin and Yinge Sea Basin. These oil fields are mainly explored and operated by CNOOC E&P subsidiaries. Besides, PetroChina¡¯s Liaohe Oilfield, Jidong Oilfield, Dagang Oilfield and Sinopec¡¯s Shengli Oilfield are developing offshore oilfields within their territories alongside the Rim of Bohai Bay. A domestic joint venture, Shanghai Oil and Gas Company, is currently the only producer of East China Sea oil and gas. There are also a few foreign invested E&P joint ventures in Bohai Sea and South China Sea.
East China Sea Basin Oilfields: The discoveries are located mainly in the basin¡¯s Xihu Sag with proved resource over 200bcm of gas equivalent. Current production comes from a couple of Pinghu and Chunxiao oilfields¡¯s blocks. The produced oil is gathered to Pinghu Central platform, and is then pumped via 306km subsea pipeline to Daishan island oil terminal in Zhoushan, Zhejiang.