CNOOC discovers oilfield in Bohai

China National Offshore Oil Corp announced the discovery of a large oilfield in Bohai on Thursday.

Located in in southern Bohai Bay, the Kenli 10-2 oilfield has an average water depth of about 15.7 meters. The discovery well Kenli 10-2-4 was drilled and completed at a depth of 1,520 meters. The appraisal well was tested to produce approximately 569 barrels of oil per day, the company said.

"The successful discovery of the Kenli 10-2 oil field marked a breakthrough in lithological oilfield exploration, with reserves of 100 million tons in the shallow depression zone of the Bohai oilfields, and demonstrated the broad prospects for exploration of lithological structures in Bohai," said Xu Changgui, general manager of the company's exploration department.

"It has great significance as a guide for exploration in similar basins."

According to Wang Dongjin, chairman of CNOOC, the company will make the discovery of large and medium-sized oil and gas fields a goal and continue to deepen geological understanding and technological innovation.

CNOOC will also actively promote the increase of oil and gas reserves and production and contribute to the company's high-quality development, he said.