CNOOC Ltd. Made New Exploration Progress in Bohai Bay

abarrelfullabarrelfull wrote on 27 Aug 2014 12:50

March 19, 2007

CNOOC Limited (NYSE: CEO, SEHK: 883, “the Company") announced today its new independent discovery, Bozhong (BZ) 28-2E, indicating a new progress in the Company’s exploration in the Yellow River Mouth Sag of Bohai Bay.

BZ28-2E is located between BZ 28-1 and BZ 28-2S oil fields in Bohai Bay.

The discovery well BZ 28-2 E-1 is located in the south of Structure BZ 28-2E in the Yellow River Mouth Sag. The well penetrated oil pay zones with total thickness of 35 meters and gas sections of 35 meters. The well was drilled to a total depth of 2,575 meters,with water depth of about 20 meters.

During the drill stem test, the well was tested to flow at an average rate of 1,600 barrels of oil per day from the oil zones via 7.14mm and 14.29mm chokes, and approximately 10 million cubic feet of gas per day from the gas layer via 15.08 mm choke.

Mr. Zhu Weilin, Vice President of the Company and General Manager of the Exploration Department commented, “I am happy to declare this exciting result in our exploration. Since 2006, CNOOC Ltd. has made 4 discoveries in the Yellow River Mouth Sag of Bohai Bay. We hope to develop a large-scale cluster of oil and gas fields in the future.”

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