Exploration Progress Made in Bohai

abarrelfullabarrelfull wrote on 28 Aug 2014 12:18
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October 23, 2013

CNOOC Limited (the “Company”, NYSE: CEO, SEHK: 00883, TSX: CNU) announced the Company recently made a mid-sized new exploration discovery Luda 5-2 North and successfully appraised the mid-sized oil and gas structure Kenli 9-5/9-6.

Luda 5-2 North is located in the Liaodong Bay of Bohai, with average water depth of 31 meters. The discovery wells of Luda 5-2N-2 and LD 5-2N-4 were both drilled and completed at a depth of around 1,140 meters and encountered the oil pay zones with total thickness of about 120 meters and 85 meters, respectively. The oil production of Luda 5-2N-2 well was tested at around 1,040 barrels per day. The new discovery of Luda 5-2 North demonstrates the Company’s successful experience in the thermal recovery technology of heavy oil, and creates a new methodology to commercialize heavy oil reserves.

Kenli 9-5/9-6 is located in the Laixi structure in the southern part of Bohai, with an average water depth of about 9 meters. The Company drilled Kenli 9-5-2D and Kenli 9-6-2 wells and completed at a depth of 2,200 meters and 1,250 meters, respectively. These two wells encountered oil pay zones with total thickness of about 70 meters and 120 meters, respectively. During the test period, the oil production of Kenli 9-6-2 well was around 200 barrels per day. The successful appraisal of Kenli 9-5/9-6 has further expanded the scale of the reserve in the area.


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