CNOOC Ltd Makes New Discovery in Bohai Bay

abarrelfullabarrelfull wrote on 28 Aug 2014 07:33

Aug 13, 2009

CNOOC Limited (the “Company" or “CNOOC Ltd.”, NYSE: CEO, SEHK: 0883) announced today that the Company has successfully made a new discovery – Qinhuangdao(QHD)35-4 in Shijiutuo Uplift of Bohai Bay.

New discovery QHD35-4 is located in the south of Shijiutuo Uplift in the north central of Bohai Bay, and about 38 kilometers western of QHD32-6 oilfield.

The Company has drilled wells on this structure before. The discovery well QHD35-4-3 penetrated oil pay zones with total thickness of 21.4 meters and proved QHD35-4 a middle-size oilfield. The well drilled to a total depth of 2,215 meters, with water depth of about 26 meters.

During the drill stem test, the well was tested to flow at an average rate of 1,700 barrels of oil and 400 thousand cubic feet of natural gas per day via 11.11mm choke.

Mr. Zhu Weilin, Executive Vice President of the Company and General Manager of Exploration Department commented, “New discovery QHD 35-4 is one of discoveries the Company has made around Shijiutuo Uplift. This area is expected to become new growth point of our reserves.”

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