CNOOC Ltd Makes New Discovery BZ 29-4 in Bohai Bay

abarrelfullabarrelfull wrote on 27 Aug 2014 12:30

March 17, 2006

CNOOC Limited (NYSE: CEO, SEHK: 883, “the Company") announced today that its independent wildcat Bozhong (BZ) 29-4-2 drilled in Bohai Bay has successfully completed.

BZ29-4-2 was drilled on Structure BZ29-4, which is located in Yellow River Mouth Sag in central northern Bohai Bay with a water depth of 21.4 meters. The well, spudded in January this year, was drilled to a total depth of 3,070 meters.

The well encountered gas pay zones of 34.5 meters and oil zones of 13 meters. It was tested to flow at 760 barrels of oil per day by 7.94mm choke during the drill stem test.

BZ29-4 is the first discovery CNOOC limited made in 2006. The company will drill appraisal wells to prove the commerciality of the discovery in the near future.

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