CNOOC limited Announces New Discovery in Bohai Bay

abarrelfullabarrelfull wrote on 27 Aug 2014 11:39
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October 12, 2005

CNOOC Limited (the "Company" or “CNOOC Ltd.”; NYSE “CEO”, SEHK “883”) announced today that it has achieved a new discovery Luda (LD) 27-1 in Bohai Bay.

Discovery well LD 27-1-1 is an independent wildcat spudded in this July. The well was drilled in 16 meters of water to a total depth of 2772 meters. LD 27-1-1 encountered 34 meters of oil pay in 7 pay zones.

The well was tested to flow 179 barrels of oil per day from three intervals 1170-1180, 1261-1267, 2691-2696 metres during drill stem tests.

Mr. Zhang Guohua, Senior Vice President of the Company commented, “We are delighted for LD 27-1’s test results which definitely indicated its promising future. Appraisals are planed to further evaluate its reservoir and economic value.”

CNOOC limited acts as the operator and holds 100 percent interest of the discovery.


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