CNOOC makes deepwater natural gas find in Bohai Bay

by on July 5, 2012 12:00 am BST

CNOOC makes offshore natural gas find in Bohai Bay


BEIJING–China National Offshore Oil Corp., known as CNOOC, said that it has discovered natural gas at an offshore well after drilling more than 5,000 meters in northeastern Bohai Bay.

This is the first deep-water gas discovery in Bohai Bay, it said in a statement on its website, adding that it was a “technological breakthrough.” The company didn’t mention the volume of the discovery.

Five offshore oil discoveries were made in Bohai in the first three months of this year and the area will remain the company’s major growth engine in the future, Cnooc Ltd. (CEO) Chief Financial Officer Zhong Hua said in April.

Dow Jones Newswires