CNOOC Announces Offshore Oil and Gas Exploration Breakthrough

Chinese state-held oil and gas giant CNOOC said on Monday it had achieved an exploration breakthrough in medium-to-deep Mesozoic plays in the Bohai Bay offshore China.

CNOOC, which specializes in offshore exploration and production in China and abroad, was exploring a discovery well in the Longkou 7-1 oilfield in eastern Bohai Bay. The well was drilled and completed at a depth of approximately 4,400 meters (14,436 ft), encountering a total of 76 meters (249 ft) of oil and gas pay zones.

The well was tested to produce about 210 cubic meters of crude oil and nearly one million cubic meters of natural gas, a new record for gas tested productivity in Bohai Bay, according to the Chinese firm.