CNOOC Ltd. Made New Discovery in Bohai Bay

abarrelfullabarrelfull wrote on 27 Aug 2014 12:52

October 6, 2008

CNOOC Limited (the “Company" or “CNOOC Ltd.”, NYSE: CEO, SEHK: 0883) announced today that the Company made a new discovery Bozhong (BZ) 35-2, which accomplished a new achievement in our oil and gas exploration activities in Bohai Bay. The discovery well BZ35-2-2 has successfully completed its drilling process.

BZ 35-2-2 is located at the east of Yellow River Mouth Sag. The well penetrated oil pay zones with total thickness of 31.2 meters, and it was drilled to a total depth of 3,235 meters,with water depth of about 20 meters.

During the drill stem test, the well was tested to flow at an average rate of 560 barrels of oil per day from the oil zones via 7.94mm and 9.53mm chokes, and approximately 32,000 cubic feet of gas per day.

Mr. Zhu Weilin, Executive Vice President of the Company and General Manager of Exploration Department commented, “Our exploration activities in the hydrocarbon-rich Bohai Bay are effective and well rewarded. Ever since 2008, the Company has made several oil and gas discoveries, such as BZ35-2, KL3-2 and KL 10-1 in the area. We will continue our exploration arrangements here to fuel its potentials.”

CNOOC Ltd. holds 100% interests of the new discovery.

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