China's Ministry of Land and Resources announced Thursday the discovery of natural gas reserves exceeding 100 billion cubic meters in the northern South China Sea.
The reserves were found in a prospect well numbered LW 3-1-1, in the Zhujiangkou basin 250 kilometers from Hong Kong, the ministry said.
It was China's first prospect well with a drilling depth of more than 1,000 meters, according to the ministry.
This important discovery showed the potential reserves of oil and gas in the blue water of the South China Sea, the ministry said.
China launched its strategic exploration and appraisal of potential oil and gas reserves in the northern South China Sea in 2004.
(Xinhua News Agency July 14, 2006)
