CNOOC Limited‘s Exploration Success Continue

abarrelfullabarrelfull wrote on 27 Aug 2014 06:29

August 26, 2001

CNOOC Limited (SEHK: 883, NYSE: CEO) ("the Company") announced today that a new gas discovery, Liuhua 19-3 in the South China Sea, was made via drilling Liuhua 19-3-1, an independent wildcat well.

Liuhua 19-3-1 was spudded in June and drilled to a total depth of 1,500 meters. Drill stem tests were conducted on various intervals, one of which resulted in a gas production of 49,000 cubic meters per day with a 44/64 inch choke.

"This discovery is encouraging," said Mr Ru Ke, Executive Vice President of the Company. "Liuhua 19-3-1 is the first wildcat drilled targeting for gas reservoir in the shallow horizons of the area. This indicates the existence of hydrocarbon sources in the area and brightens the prospects of a number of wells planned for the future."

Liuhua 19-3 is located in the Eastern South China Sea, about 223 kilometers south of Hong Kong. It is about 70 kilometers from the producing Liuhua 11-1 oilfield. More wells are planned in the area in the next several years.

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