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 35,000 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 4.73 million cubic meters, earning strong partner recognition.
Equity production in 2025: 8.10 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 2025: 1.60 MMBOE
The petroleum contract for Block 22/12 in the Beibu Gulf was signed in December 1999, and the Weizhou 12-8W/6-12 Oilfield was commissioned in April 2013. As an offshore marginal oilfield, it faced early challenges. Thanks to bold innovations by the Sino-foreign joint team, the oilfield achieved cost-effective development. It has operated steadily with sustained over-production, and its total output by August 2028 (end of the 15-year term) is expected to exceed 2.6 times the ODP target. Weizhou 12-8E Oilfield was put into production in April 2022. For Weizhou 10-3W Oilfield, construction and installation of wellhead platforms, subsea pipelines and cables, and a self-installing production platform have been completed, along with partial development well drilling. It is scheduled to start production in 2026.
Equity production in 2025: 0.44 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 completed the voluntary tender offer for Tethys Oil AB, with the transaction closed in January 2025. Tethys is an oil exploration and production company holding interests in four onshore oilfields in Oman, covering a combined area of approximately 60,000 square kilometers. Nearly 90% of the area remains undeveloped, representing substantial potential for reserve growth and production expansion. Following the transaction, ROC’s crude oil entitlement reserves increased by 123%, crude oil entitlement production rose by 113.80%, and the contract term was extended by more than 10 years, laying a solid foundation for the sustainable development of the company’s oil and gas business.
Entitlement production (Feb–Dec 2025): 2.53 MMBOE
