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CNOOC, partners confirm oil find off Bohai Bay, BUSINESS TIMES
Business Times (Malaysia), May, 2002
Business Times (Malaysia) 05-21-2002 CHINA National Offshore Oil Corp Ltd (CNOOC) has announced that the company and partners, ChevronTexaco and Petronas Carigali, have confirmed an oil discovery in 02/31 Block in Liaodong Bay off Bohai Bay, China. According to the company, appraisal well LD 27-2-3, which was drilled in 21m of water to a total depth of 2,700m, encountered multiple oil zones in the Minghuazhen, Guantao and Dongying formations.
Four light-oil zones were tested and yielded 33-36 API oil at a combined rate of 4,600 barrels per day. Under the production sharing contract, CNOOC Ltd has the right to take up to a 51 per cent participating interest in the development of the oil discovery. Located about 104km southeast of Qinghuangdao city,...
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