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
Williston Warriors: Enerplus’ Long Bakken Run Ends in $4B Chord Deal
2024-02-22 - Chord Energy and Enerplus are combining to create an $11 billion Williston Basin operator. The deal ends a long run in the Bakken for Enerplus, which bet on the emerging horizontal shale play in Montana nearly two decades ago.
Marketed: Rock Oil Holdings Mineral, Royalty Opportunity in Midland Basin
2024-04-09 - Rock Oil Holdings has retained PetroDivest Advisors for the sale of a mineral and royalty opportunity in Howard County, Midland Basin.
Elk Range Royalties Makes Entry in Appalachia with Three-state Deal
2024-03-28 - NGP-backed Elk Range Royalties signed its first deal for mineral and royalty interests in Appalachia, including locations in Pennsylvania, Ohio and West Virginia.
Marketed: Team Operating Gulf Coast Opportunity
2024-03-19 - Team Operating LLC has retained PetroDivest Advisors for the sale of certain oil and gas leasehold and related assets spanning multiple counties in Texas, Louisiana and Mississippi.
ChampionX to Acquire RMSpumptools, Expanding International Reach
2024-03-25 - ChampionX said it expects the deal to extend its reach in international markets including the Middle East, Latin America and other global offshore developments.