Economy
CNOOC: Partner Husky finds gas field in S.China Sea
(Xinhua)
Updated: 2010-02-09 22:06
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BEIJING: China National Offshore Oil Company Limited (CNOOC Ltd.) announced Tuesday its partner, Husky Oil China Limited, a subsidiary of Husky Energy Inc., has discovered a new deepwater gas field in the South China Sea.
The LiuHua (LH) 29-1 field is the third deepwater gas discovery made in Block 29/26 of the Pearl River Mouth Basin in the eastern South China Sea, after other discoveries in 2006 and 2009, CNOOC said in a statement on its website.
The well, drilled to a total depth of 3,331 meters with a water depth of about 720 meters, was tested to flow 57 million cubic feet (1.61 million cubic meters) of natural gas per day.
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The LH 29-1 field will be further appraised in 2010 by Canada-based Husky, which signed a production sharing agreement for Block 29/26 with CNOOC Ltd. in 2004.
According to the contract, CNOOC Ltd. has the right to hold up to 51 percent interest in any commercial discoveries in Block 29/26.
CNOOC Ltd. is the listed subsidiary of China National Offshore Oil Corporation, China's largest offshore oil company.
