CNOOC Limited discovers a major oilfield, Qinhuangdao 27-3, in Bohai Sea, adding 100 million tons of oil equivalent.
CNOOC Limited, a Chinese oil and gas company, has discovered a major oilfield in the Bohai Sea, adding over 100 million tons of oil equivalent to its in-place volume. The Qinhuangdao 27-3 oilfield, located in the north-central waters of the Bohai Sea with an average water depth of 25 meters, contains medium-heavy crude oil. The discovery well, QHD27-3-3, was drilled at a depth of 1,570 meters, encountering a total of 48.9 meters oil pay zones and testing approximately 742 barrels of crude oil per day from a single well. CNOOC's CEO and President, Mr. Zhou Xinhuai, stated that the successful discovery further expands the resource base for offshore oil production growth and will help contribute to the sustainable development of the economy and society.