Shanghai: China National Offshore Oil Corporation (CNOOC) has announced that its flagship deepsea oil rig HYSY No.981 has started drilling offshore Myanmar in the Andaman Sea.

CNOOC said the well offshore Myanmar is targeting a depth of 5,000 metres, and will be the deepest exploration well it has undertaken so far.

The $1bn rig is chartered to China National Petroleum Company (CNPC) which has been awarded three offshore oil block by Myanmar authorities. [03/03/15]