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
Pembina Pipeline Enters Ethane-Supply Agreement, Slow Walks LNG Project
2024-02-26 - Canadian midstream company Pembina Pipeline also said it would hold off on new LNG terminal decision in a fourth quarter earnings call.
Williams Beats 2023 Expectations, Touts Natgas Infrastructure Additions
2024-02-14 - Williams to continue developing natural gas infrastructure in 2024 with growth capex expected to top $1.45 billion.
Canadian Railway Companies Brace for Strike
2024-04-25 - A service disruption caused by a strike in May could delay freight deliveries of petrochemicals.
TC Energy’s Keystone Back Online After Temporary Service Halt
2024-03-10 - As Canada’s pipeline network runs full, producers are anxious for the Trans Mountain Expansion to come online.
Enbridge Announces $500MM Investment in Gulf Coast Facilities
2024-03-06 - Enbridge’s 2024 budget will go primarily towards crude export and storage, advancing plans that see continued growth in power generated by natural gas.