Two new oil finds in Bohai, Pearl River Mouth Basin

8/21/2012

Two new oil finds in Bohai, Pearl River Mouth Basin

BY WAYNE MA

BEIJING -- Cnooc, China's main offshore oil and gas producer, has announced two new offshore oil discoveries in the Bohai Sea and Pearl River Mouth Basin, respectively. The announcement is the latest in a string of public disclosures as Cnooc attempts to boost stagnating crude oil output. Last week, Cnooc said it appraised two wells in northeastern Qinhuangdao in the Bohai Sea.

The first well, Luda 6-2, is in waters 31 m deep in Liaodong Bay in northeastern Bohai and has an estimated output of 850 bopd. The second well, Lufeng 15-1, is in the southeast Pearl River Mouth Basin in waters 283 meters deep and has an estimated output of 800 bopd.

"The successful drilling of Lufeng 15-1 strongly promoted the oil-and-gas exploration activities in the area of this structure as well as opened up a new chapter of the independent exploration in the Pearl River Mouth Basin," Zhu Weilin, Cnooc's general manager of the exploration department, said in a statement.

Dow Jones Newswires

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