China National Offshore Oil Company Limited (CNOOC Ltd)
announced on Tuesday that it has made a new independent discovery
of oil deposits in east China's Bohai Bay after a wildcat
operation.
The discovery, Bozhong (BZ) 28-2S-1, is located on Structure
BZ28-2S in the Yellow River Mouth Sag of central-southern Bohai
Bay. The well hit its target depth of 2,125 meters, with a water
depth of about 22 meters.
The drilling started in February. The well penetrates oil layers
with a total thickness of 85 meters and gas sections eight meters
thick.
Two drill stem tests were conducted over two intervals with a
combined flow rate of about 1,900 barrels of oil and two million
cubic feet of gas per day via 7.94 mm and 12.7 mm chokes,
respectively.
Further appraisal work will be conducted to evaluate the
commercial value of the discovery, according to CNOOC Ltd.
According to preliminary estimates, BZ28-2S is one of the
largest discoveries among those made by CNOOC Ltd. in the Bohai Bay
area in recent years, said Zhu Weilin, vice president of CNOOC Ltd.
and general manager of the exploration department.
Incorporated in Hong Kong in August 1999, CNOOC Limited is a
70.64 percent-held subsidiary of China National Offshore Oil
Corporation (CNOOC), China's largest offshore oil and gas
producer.
(Xinhua News Agency March 29, 2006)