CNOOC makes major breakthrough in South China Sea

CNOOC Limited announced on Thursday that it has made a major breakthrough in the exploration of Paleozoic buried hills in the Beibu Gulf Basin.

The Weizhou 10-5 oil and gas field is located in the Beibu Gulf of the South China Sea, with an average water depth of about 37 meters. Exploration well WZ10-5-1Sa encountered an oil and gas pay zone of 283 meters, with a total drilled depth of about 4,840 meters, it said.

The test results indicate that the well produces about 13.2 million cubic feet of natural gas and about 800 barrels of crude oil per day, a major breakthrough in natural gas exploration in the granite buried hills in the Beibu Gulf Basin.

"The breakthrough in the exploration of Paleozoic granite buried hills reveals the vast exploration prospects of the buried hills in the Beibu Gulf Basin," said Xu Changgui, the chief geologist of the company.

"It will also provide guidance for exploration in similar fields offshore China."

CNOOC Limited has made large and medium-sized oil and gas discoveries in recent years in various types of buried hills offshore China, which have been further expanding the company's oil and gas resource base.

The discovery in the Beibu Gulf Basin will help stabilize energy supply and continuously contribute to the economic and social development.