A PROJECT OF TECHNOLOGY TRANSFER TO THE CHINESE OFFSHORE PETROLEUM INDUSTRY

Abstract

Under the umbrella of a Technical Co-operation Agreement between Australia and China, CSR is managing a project to transfer to the Chinese petroleum industry the equipment and knowledge required for the financial evaluation of large offshore developments by computer modelling.

A medium-size interactive computer will be supplied along with a financial evaluation software package. Australian specialists in financial evaluation and modelling, computer management and offshore engineering will visit China to conduct training courses, and twelve Chinese professionals will visit Australia for tertiary studies and work experience.

China is coming to the end of the first round of awarding contracts to foreign companies for the exploration of offshore oil fields. Ahead are later stages of bidding and contract negotiation, the evaluation of field development proposals, and the management of joint venture participation in producing fields. The computer equipment and application skills to be supplied under this project will significantly upgrade the capability of the Chinese petroleum industry to manage these future stages.