CNOOC Ltd. introduced Monday a “main” discovery within the Huizhou 19-6 oilfield within the South China Sea.
Effectively HZ19-6-3 has raised the sector’s confirmed in-place volumes to over 100 million metric tons of oil equal. Throughout testing the invention nicely produced 413 barrels of oil and a pair of.41 million cubic ft of pure gasoline a day. Drilled to five,415 meters (17,765.75 ft), the nicely encountered 127 meters of oil and gasoline pay zones, the state-backed oil and gasoline exploration and manufacturing firm mentioned in a press launch.
Huizhou 19-6 sits within the jap South China Sea at a median water depth of about 100 meters. “The principle oil-bearing performs are Paleogene Enping Formation and Wenchang Formation, and the oil property is gentle crude”, mentioned CNOOC Ltd., majority-owned by China Nationwide Offshore Oil Corp. (CNOOC).
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CNOOC Ltd. chief geologist Xu Changgui commented, “In recent times, CNOOC Restricted has strengthened the analysis on exploration principle and know-how of the deep and ultra-deep performs within the South China Sea, and breakthroughs have been achieved”.
“This discovery has confirmed the most important built-in clastic oilfield within the northern South China Sea when it comes to authentic oil in place, breaking the standard theoretical understanding, and demonstrating the large exploration potential of deep and ultra-deep performs in high-temperature and extremely energetic basins offshore China”, Xu added.
CNOOC Ltd. chief govt Zhou Xinhuai famous, “Oilfields with hundred-million-ton oil in-place have been found on this space for 2 consecutive years, making it a brand new driver of the offshore oil and gasoline manufacturing progress”.
HZ19-6-3 is the second discovery declared by CNOOC Ltd. this yr, following WZ10-5-1Sa within the Weizhou 10-5 area.
Drilled to a complete depth of about 4,840 meters in an space with a median water depth of 37 meters, WZ10-5-1Sa confirmed a pay zone of 283 meters. Throughout testing the nicely produced round 13.2 million cubic ft of gasoline and roughly 800 barrels of petroleum per day.
“It marks a significant breakthrough in pure gasoline exploration within the granite buried hills within the Beibu Gulf Basin”, CNOOC Ltd. mentioned March 6, utilizing the native title for the Gulf of Tonkin.
Xu mentioned, “The Weixinan Sag within the Beibu Gulf Basin is likely one of the most explored sags offshore China”.
“In recent times, the Firm has been researching on the reservoir formation theories of the advanced buried hills and the related applied sciences wanted”, Xu mentioned. “The breakthrough within the exploration of Paleozoic granite buried hills reveals the huge exploration prospects of the buried hills within the Beibu Gulf Basin. It would additionally present steerage for exploration in related fields offshore China”.
Final yr CNOOC Ltd. made 11 oil and gasoline discoveries and appraised 30 oil and gasoline buildings throughout its world portfolio. On the finish of 2024 its web confirmed reserves reached 7.27 billion barrels of oil equal, up 7.2 p.c year-on-year, the corporate mentioned in its report of annual outcomes Thursday.
“CNOOC Restricted continued to innovate exploration theories and applied sciences”, the report mentioned. “In China, a number of discoveries have been made beneath the steerage of the exploration theories, together with Longkou 7-1, Qinhuangdao 29-6, Huizhou 19-6, and Lingshui 36-1.
“Abroad, the Firm expanded its world exploration footprint alongside the Atlantic rim and the ‘Belt and Highway’ nations. This yr, CNOOC Restricted was awarded petroleum contracts for 10 exploration blocks in Mozambique, Brazil and Iraq”.
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