CNOOC has announced plans to build another receiving terminal in the southeastern province of Fujian, a company official said on Tuesday.
The project in the Fujian city of Zhangzhou is estimated to cost $1.1 billion and will have an annual capacity of 3 million tons.
“The project has finished the preliminary work and is now waiting for the final approval from Beijing to start construction,” said the company official.
CNOOC currently operates six receiving terminals along the east coast of China. The latest edition prior to this is the floating terminal off the northern city of Tianjin.
For the Fujian project, CNOOC has already started the 100 acre sea reclamation effort for the 130 acre facility.
The sea reclamation could cost the company up to $109 million.
The project, including a port and three storage facilities of 160,000 cubic meters each, is expected to start operation in 2017, the media said.