CNOOC Ltd. announced March 18 it made a major oilfield discovery in the Bohai Sea, adding over 100 million tons of oil equivalent proved in-place volume.
The discovery was made in the Qinhuangdao 27-3 oilfield in the north central waters of the Bohai Sea, offshore China, which has an average water depth of approximately 25 m, CNOOC said in its press release.
The field has been tested to produce approximately 742 bbl/d of oil from a single well.
The main oil-bearing play is the Minghuazhen formation of Neogene and the oil property is medium-heavy crude. The discovery well QHD27-3-3 was drilled and completed at a depth of 1,570 m, which encountered a total of 48.9 m oil pay zones, the company said.
"Over the years, we have been continuing to make new discoveries in the Bohai Sea, which further expand the resource base for offshore oil production growth,” said CNOOC CEO and President Zhou Xinhuai.
Recommended Reading
Range Resources Expecting Production Increase in 4Q Production Results
2024-02-08 - Range Resources reports settlement gains from 2020 North Louisiana asset sale.
Technip Energies Wins Marsa LNG Contract
2024-04-22 - Technip Energies contract, which will will cover the EPC of a natural gas liquefaction train for TotalEnergies, is valued between $532 million and $1.1 billion.
After 4Q Struggles, Transocean’s Upcycle Prediction Looks to Pay Off
2024-02-21 - As Transocean executives predicted during third-quarter earnings, the company is in the middle of an upcycle, with day rates and revenues reaching new heights.
Oceaneering Won $200MM in Manufactured Products Contracts in Q4 2023
2024-02-05 - The revenues from Oceaneering International’s manufactured products contracts range in value from less than $10 million to greater than $100 million.
CNOOC’s Suizhong 36-1/Luda 5-2 Starts Production Offshore China
2024-02-05 - CNOOC plans 118 development wells in the shallow water project in the Bohai Sea — the largest secondary development and adjustment project offshore China.