CNOOC Makes Large Oil Discovery in China's Bohai Bay

Chinese oil company CNOOC said Thursday it had made a "large-sized" discovery at Kenli 10-2 site in Bohai Bay, offshore China.

The Kenli 10-2 oilfield is located in Laizhou Bay Sag in Southern Bohai Bay, with an average water depth of about 15.7 meters. 

The main oil-bearing formation of Kenli 10-2 oilfield is in the lower member of Neogene Minghuazhen Formation and the oil properties are conventional heavy oil, CNOOC said.

"The discovery well Kenli 10-2-4 was drilled and completed at a depth of 1,520 meters, and encountered oil pay zones with a total thickness of approximately 27 meters. The appraisal well was tested to produce approximately 569 barrels of oil per day," CNOOC said.

Xu Changgui, General Manager of Exploration Department of CNOOC said: "The successful discovery of the Kenli 10-2 oil field marked the breakthrough in discovery of lithological oilfield with reserve of 100 million tons in the shallow depression zone of the Bohai oilfields, demonstrated the broad prospects for exploration of lithological structures in the Bohai, and has great significance as a guide for exploration in similar basins."

Wang Dongjin, Chairman of the Company said, "CNOOC Limited will firmly grasp the leading role of oil and gas exploration, take the discovery of large and medium-sized oil and gas fields as the goal, continue to deepen geological understanding and technological innovation, actively promote the increase of oil and gas reserves and production, and contribute to the company's high-quality development."