CNOOC Ltd Made Another New Discovery in Bohai Bay

abarrelfullabarrelfull wrote on 27 Aug 2014 11:23

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Nov 29, 2005

CNOOC Limited (the "Company" or “CNOOC Ltd.”; NYSE “CEO”, SEHK “883”) is pleased to announce today that Jinxian (JX) 1-1, a new discovery was made via drilling JX1-1-2D, an independent wildcat.

JX1-1-2D is drilled on JX1-1 structure in Liaodong Bay, in the Northeastern part of Bohai Bay. With a water depth of about 29 meters, JX1-1-2D was spudded this August and drilled to a total depth of 3,143 meters. The well encountered about 31.5 meters of pay zones.

Drill stem tests were conducted on various intervals. On 7.94 mm and 11.91 mm chokes, the well flowed about 1000 barrels of crude and more than 0.73 million cubic feet of gas per day.

Mr. Zhu Weilin, Vice President of the Company and General Manager of exploration department commented, ”Our independent exploration program scored another success. The well discovered new oil bearing formations in this area."

The Company holds 100% interest of the discovery.

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