China’s Largest Offshore Oil Company, CNOOC, Discovers Oil and Gas Field in the North of the Country With 100 Million Tons of Oil Equivalent Reserves

Bohai Field May Be China’s Largest Oil And Gas Producer After Latest Discovery By CNOOC – China National Offshore Oil Corporation

The China National Offshore Oil Corporation (CNOOC), one of the three largest oil and gas producers in China, announced on Monday that it has discovered an oil and gas field in the north of the country, with estimated reserves of 100 million tons of oil equivalent, which is expected to transform the area into China’s largest crude oil production base.

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The field, located at an average depth of 23.2 meters, is known as Bozhong 13-2. It is situated in the middle of Bohai Sea, 140 kilometers away from the municipality of Tianjin in northern China, CNOOC reported.

Drilled to a depth of 5,223 meters so far, the well at the field has encountered oil and gas exploration zones with a thickness of 346 meters.

The average daily production of oil and gas from the well will be 1,980 barrels and 5.25 million cubic feet, respectively, according to the company’s assessment.

CNOOC’s Oil And Gas Discovery Expands Exploration in the South China Sea

CNOOC said that the discovery of the Bozhong 13-2 field represents a significant advancement in exploration work in the Bohai Sea area and considerably expands the capacity for exploration of subterranean hills.

“The successful exploration of the Bozhong 13-2 structure is another remarkable exploration achievement for the company to continuously enhance its efforts in oil and gas exploration and production offshore China,” said CNOOC’s General Exploration Department Manager, Zhou Xinhuai.

Bozhong 13-2 will become one of the main driving forces for the Bohai oil field to reach 40 million tons of gross production during the 14th Five-Year Plan period, which ends in 2025, Zhou Xinhuai, general manager of the exploration department, stated that the company has been increasing its crude oil production in China for two consecutive years.

CNOOC, headquartered in Beijing, began looking for oil and gas in the Bohai Sea half a century ago. Since 2019, it has discovered the 100 billion cubic meters gas field Bozhong 19-6 and the Kenli 6-1 oil field with 100 million tons.