China National Offshore Oil Corporation (CNOOC) has announced making a significant oil and gas discovery in Eastern South China Sea.
The company has encountered the reserves after drilling the HZ26-6-1 well in the Huizhou 26-6 structure.
Huizhou 26-6 is located in Huizhou Sag in Zhu1 Depression of Pearl River Mouth Basin in Eastern South China Sea. The water depth in the structure averages about 113 meters.
CNOOC stated: “The successful exploration of Huizhou 26-6 oil and gas structure is the first time that the Company has achieved commercial and highly productive oil and gas flow in buried hill exploration in Eastern South China Sea, marking a significant exploration breakthrough in Paleogene and buried hill complex oil and gas reservoir in Pearl River Mouth Basin, and further proving the huge exploration potential in this new field.”
CNOOC drilled the discovery well to a total depth of 4,276 meters
The discovery well was drilled to a total depth of 4,276 meters, where oil and gas pay zones with a total thickness of approximately 422.2 meters were encountered.
Later, the well underwent testing to produce around 2,020 barrels of oil and 15.36 million cubic feet of gas respectively per day.
The discovery is expected to emerge as the first mid-to-large sized condensate oil and gas field in the shallow water area of Pearl River Mouth Basin.
In May, the Chinese oil company started production from the Penglai 19-3 oilfield area 4 adjustment/Penglai 19-9 oilfield phase II project (Penglai 19-3/19-9 project) in the Bohai Sea, China.
CNOOC is the operator of the Penglai 19-3/19-9 project with a 51% stake.
