Welcome to the official website of Hainan Mining Co., Ltd.
Oil & Gas Exploration, Development, and ProductionHainan Mining is positioning its oil and gas business as a second growth curve, with its operations primarily conducted through the company's wholly-owned subsidiary, ROC Oil. In 2019, Hainan Mining acquired 51% of the equity in ROC from its controlling shareholder, Fosun Group, followed by the acquisition of the remaining 49% equity in 2023.
ROC is an international oil & gas company with over 20 years of experience, offering full-cycle capabilities that include exploration, appraisal, development, and production delivery.Its key projects are in Sichuan (China), the South China Sea (Beibu Gulf and Pearl River Mouth), Malaysia, and Oman, with average daily production exceeding 30,000 BOE.
As a foreign independent oil & gas developer, ROC collaborates with China National Petroleum Corporation, China National Offshore Oil Corporation, and Petronas to conduct oil & gas exploration, evaluation, and development activities. In these collaborations, costs are shared and profits are calculated in accordance with the agreed equity ratios. ROC's professional technical capabilities have garnered significant recognition from its partners.
In May 2021, ROC acquired full operating rights to Sichuan's Bajiaochang gas field, significantly expanding its natural gas business. As operator, ROC efficiently drilled multiple wells and accelerated DPP/LNG projects through innovative management and technology integration, boosting the Bajiaochang gas field's daily output from 0.86 to 4.26 million cubic meters, earning strong partner recognition.
Equity production in 2024: 5.78 MMBOE.
ROC has been involved in the offshore oil and gas field project located in the waters of Sarawak, Malaysia since January 1, 2014. The company is responsible for underground oil storage, well intervention, new facility projects, and field redevelopment drilling.
After entering the project, through innovative technologies and efficient drilling, ROC reversed production declines and exceeded output targets within budget.
Equity production in 2024: 1.71 MMBOE
Beibu Gulf Block 22/12 was contracted in 1999, with WZ12-8W/6-12 commencing production in 2013. Given that this is a marginal offshore oilfield development, the cooperative oilfield faced numerous challenges in the initial stage. However, the Sino-foreign cooperative team overcame early challenges through innovation, achieving economic success. Production has consistently exceeded targets, reaching 2.28× ODP forecast by 2024, with 2.6× expected by 2028.
The adjacent WZ12-8E field (2022 start) has already matched its ODP forecast of 4.11 million barrels by 2024, with final output projected near 10 million barrels.
Equity production in 2024: 0.61 MMBOE.
In 2015, ROC signed the exploration contract for Block 03/33 in the eastern South China Sea with CNOOC as operator. A major exploration breakthrough occurred in October 2022 at the Huizhou 12-7 oilfield, where the exploration well encountered nearly 50 meters of net oil pay in the Palaeocene Epping Formation.
The Huizhou 12-7 oilfield received Chinese government approval in March 2023, adding 10 million tonnes of proven geological reserves. Currently in pre-development feasibility studies, the oilfield is scheduled for construction and production startup in the second half of 2028.
In December 2024, ROC Oil completed the tender offer for Tethys Oil. Tethys Oil is an oil exploration and production company with interests in four onshore oil fields in Oman, covering a combined area of approximately 60,000 square kilometers, of which nearly 90% remains undeveloped, presenting significant potential for reserve growth and production increase.
Following the transaction, ROC's crude oil net equity reserves grew by 123% and production increased by 140%. Its contract period was extended by over 10 years. These enhancements have laid a solid foundation for the sustainable development of the oil & gas segment.
