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CNOOC makes Bohai discovery

by on August 14, 2012 11:31 am GMT
 

The Chinese oil behemoth struck large amounts of oil pay at
the wells which were drilled in Qinghuangdao 29-2 east.

The Qinghuangdao 29-2E-4 well drilled in the middle of the
east structure in the area and made a “significant breakthrough”, CNOOC said on
Tuesday.

In total the well struck 218.4 metres of net pay with a
single oil column of 133.7 metres.

“This well was tested to produce approximately 6600 barrels
(of oil per day) and 4.5 million cubic feet of natural gas per day, creating
the highest capacity of clastic rocks in Bohai,” CNOOC said.

Chief executive Li Fanrong said: “I am very pleased that the
company has realised another large discovery through these successful
appraisals.

“I believe Qinghuangdao 29-2 will provide firm support to
the company’s reserve and production growth in the near future.”