A New Discovery Made in Bohai Bay

abarrelfullabarrelfull wrote on 28 Aug 2014 06:46

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July 7, 2008

CNOOC Limited (the “Company" or “CNOOC Ltd.”, NYSE: CEO, SEHK: 0883) announced today that its wildcat Ken Li (KL) 10-1-1 drilled independently in Bohai Bay has successfully completed.

KL 10-1-1, which was drilled on Structure KL 10-1 of Laizhou Bay Sag, encounters oil pay zones of 56.8 meters. The well was drilled to a total depth of 3,148 meters, with a water depth of about 17 meters.

During the drill stem test, the well was tested to flow about 980 barrels of oil and 100,000 cubic feet of gas per day.

Mr. Zhu Weilin, Executive Vice President of the Company and General Manager of the Exploration Department commented, “I am pleased to announce our exploration progress in Bohai Bay. The successful discovery of KL 10-1-1 will help continue our effective exploration activities in this area.”

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