CNOOC Taps Two New Fields

CNOOC Ltd. is receiving oil from two fields, the first is Jin Zhou (JZ) 21-1 is an oil and gas field in which CNOOC owns 100 percent interest and the other is Bo Zhong (BZ) 34- 1, an independent oilfield, www.theherald.co.uk JZ 21-1, located in the Bohai Bay, is about 10 kilometers away from the JZ 20-2 condensate gas field. Currently, it is capable of yielding gas of 3.53 million cubic feet per day. BZ 34-1, also based in Bohai Bay, has successfully started production in seven wells ahead of schedule. Equipped with facilities like one central platform and one wellhead platform, it is capable of producing oil of more than 4,800 barrels a day now. On November 22, 2007, CNOOC announced that it had discovered ten new offshore oil & gas deposits by then in China, including nine on its own. From January through June 2007, the company obained six new discoveries in its proprietary oil and gas fields, including two in the central area of the Bohai Sea, one in the offshore area near Jinzhou, an oil-rich city in the northeastern province of Liaoning, and three near the Weizhou Island in South China Sea. Additionally, it also discovered one in the eastern province of Shandong partnering with other companies.