CNOOC Limited announced a major oil field discovery at the Qinhuangdao 27-3 in Bohai Sea, adding over a hundred million tons of oil equivalent proved in-place volume, in a March 18 update.
Qinhuangdao 27-3 is located in the north-central waters of the Bohai Sea, with an average water depth of approximately 25 meters. The main oil-bearing play is the Minghuazhen Formation of Neogene, and the oil property is medium-heavy crude. The discovery well QHD27-3-3 was drilled and completed at a depth of 1,570 meters, which encountered a total of 48.9 meters oil pay zones. The field has been tested to produce approximately 742 barrels of crude oil per day from a single well. Through continued exploration, the proved in-place volume of Qinhuangdao 27-3 oil field has reached 104 million tons of oil equivalent, CNOOC said.
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Xu Changgui, Deputy Chief Exploration Officer of the company, said, “The successful discovery of the oilfield further demonstrates the oil and gas exploration potential in the complicated strike-slip fault zones of the Bohai Sea.”
Zhou Xinhuai, Chief Executive Officer (CEO) and President of the company, said, “Over the years, we have been continuing to make new discoveries in the Bohai Sea, which further expand the resource base for offshore oil production growth. CNOOC Limited will focus on increasing reserves and production, to enhance our energy supply capacity, thereby contributing to the sustainable development of the economy and society.”
CNOOC also earlier in March announced a major oil field discovery at the Kaiping South field in the deepwater deep-play of the South China Sea.
