The China National Offshore Oil Company (CNOOC) expects to receive state approval for a new exploration project in the South China Sea, investor relations head Xiao Zongwei has said.

According to Xinhua, the new CNY 200 billion (£18.7 billion) project will also involve substantial investment in new oil training courses to ensure that workers have the skill sets necessary to manage operations.

China has ambitions to produce 50 million tonnes of equivalent oil and gas within the next two decades, with Zongwei explaining that priority will be given to deepwater and ultra-deepwater projects.

Operations will be conducted in cooperation with international partners Husky Energy and Newfield Exploration.

In October, CNOOC was awarded the International Corporate Citizenship Model Award by the China International Charity Foundation and a number of other partners for its commitment to poverty alleviation, disaster management and education and training.

The company was commended for its commitment to welfare projects in China throughout 2008.

5th Global Education and Training event for Oil and Gas: Exploration and Production