CNOOC Discovers New Bohai Bay Oil Reserves
December 1, 2005
The China National Offshore Oil Corporation (CNOOC) announced the discovery of 200 million cubic meters of oil in Bohai Bay this year, China View reports.
CNOOC made the announcement after the discovery of the Jinxian (JX) 1-1 high yield oil-bearing structure while drilling the JX1-1-2D well in Liaodong Bay, in the eastern part of Bohai Bay.
So far, CNOOC has made eight new discoveries in Bohai Bay with an estimated oil reserve of 200 million cubic meters and gas reserve of 1.5 billion cubic meters, according to the report.
The discoveries make it possible for the Bohai Bay to turn out 30 million cubic meters of oil by 2010. Additionally, Bohai Bay produced 14 million cubic meters of oil and gas this year, becoming China’s third largest oilfield.
Source: China View
Related News
Authorities Identify Sixth Bridge Collapse Victim
DNV to Publish New Offshore Rules and Standards in July
Sapura Energy Lands $1.8B Petrobras Deal for Six Pipelaying Vessels and Subsea Services
Senegal's O3S Orders Fast Supply Vessel from Penguin
Sea Drone Warfare has Arrived, and the US is Floundering