China's CNOOC Ltd. has discovered an oilfield with estimated reserves of 100 million tonnes (MMtonne) of light crude in the Bohai Sea, which stretches along China's northern coastline, the company said on May 1.
The estimated size of the Bozhong 26-6 field is an 'oil in place' metric, referring to the total volume in a reservoir rather than the recoverable portion of that, the company told Reuters.
The discovery well was drilled to a depth of 4,480 meters (14,698 ft), and encountered 321.3 meters of oil pay zones, meaning they have the potential to be extracted economically.
The well was tested to produce an average of around 2,040 bbl of crude and 11.25 million cubic feet of natural gas per day, the company stated.
The southern Bohai Sea has an average water depth of 22 meters, the company added.
State-owned CNOOC is China's largest offshore oil and gas producer. It has targeted a record 650 million barrels of oil equivalent (MMboe) to 660 MMboe for this year.
Recommended Reading
E&P Highlights: Oct. 14, 2024
2024-10-14 - Here’s a roundup of the latest E&P headlines, including another delay at one of the largest gas fields in the world and two major contracts in West Africa.
With Montney Production Set to Grow, US E&Ps Seize Opportunities
2024-10-02 - Canada’s Montney Shale play has already attracted U.S. companies Ovintiv, Murphy and ConocoPhillips while others, including private equity firms, continue to weigh their options.
E&P Highlights: Dec. 16, 2024
2024-12-16 - Here’s a roundup of the latest E&P headlines, including a pair of contracts awarded offshore Brazil, development progress in the Tishomingo Field in Oklahoma and a partnership that will deploy advanced electric simul-frac fleets across the Permian Basin.
Q&A: How EthosEnergy Keeps the Oil and Gas World Spinning
2024-12-04 - EthosEnergy CEO Ana Amicarella says power demands and tools are evolving onshore and offshore and for LNG and AI.
E&P Highlights: Oct. 7, 2024
2024-10-07 - Here’s a roundup of the latest E&P headlines, including a major announcement from BP and large contracts in the Middle East.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.