Economy

Markets

Industries

Insights

Reports

Events

China discovers two new oil fields in East China's Bohai Bay

(Xinhua)
Updated: 2009-03-27 15:17

China National Offshore Oil Company Limited (CNOOC Ltd) announced Friday it has started drilling in two new oil and gas formations discovered in East China's Bohai Bay.

Related readings:  CNOOC starts Huizhou refinery, eyes 70-80% runs  CNOOC starts production at offshore gas field  CNOOC to raise $11.7b in debt financing  CNOOC to invest 300b yuan in Guangdong

Both are independent exploration discoveries of CNOOC Ltd, the company said in a statement.

Bozhong (BZ) 2-1, one of the two discoveries, is at the west of Bozhong Sag. At the point of the discovery well, a 50.9-m layer of oil was found. The well drilled to a depth of 3,910 m, with water depth at about 26 m.

The well was tested to have an output of an average 1,270 barrels of oil and 393,000 cubic feet of natural gas per day.

The other new discovery was dubbed as Qinhuangdao (QHD) 29-2, found at the southeast of Qinnan Sag. A 34.7-m oil layer and a 47.9-m natural gas layer were discovered at the new field, with drill down to a depth of 3,991 m, water depth at approximately 27 m.

The QHD 29-2 field is expected to produce 3,930 barrels of oil and 15.2 million cubic feet of natural gas per day, the company said.

Incorporated in Hong Kong, CNOOC Ltd is a listed subsidiary of China National Offshore Oil Corporation, China's largest offshore oil producer.