China National Offshore Oil Corporation (CNOOC) announced Wednesday that it has made a major oilfield discovery at the Qinhuangdao 29-6 asset in the shallow Neogene formations of the Bohai Sea.
This marks the seventh consecutive discovery of a hundred-million-tonne-class oilfield in the Bohai Oilfield, China’s largest crude oil production base, since 2019, CNOOC said.
“The discovery further strengthens the country’s offshore oil and gas resource base and is of great importance to ensuring national energy security,” CNOOC said.
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Located in the central Bohai Sea, the Qinhuangdao 29-6 oilfield is another large-scale lithological oilfield in the region, following the discovery of the Qinhuangdao 27-3 oilfield in recent years.
Test results show that a single well in the Qinhuangdao 29-6 oilfield can produce about 370 tonnes of crude oil per day.
CNOOC is a large Chinese state-owned company that holds a 25% stake in the Stabroek Block offshore Guyana, where Exxon produces 900,000 barrels of oil per day.
