China's largest offshore oil producer, announced that it has discovered new oil and gas reserve in Bohai Bay, north China.
CNOOC, which holds 100% interests of the new discovery, said the newly discovered well Bozhong (BZ) 35-2-2, which is located at the east of Yellow River Mouth Sag, has successfully finished its drilling process.
The well penetrated oil pay zones with total thickness of 31.2 meters, and it was drilled to a total depth of 3,235 meters with water depth of about 20 meters.
The well was tested to float at an average rate of 560 barrels of oil and 32,000 cubic feet of gas per day from the oil zones via 7.94mm and 9.53mm chokes, according to sources.
The exploration in Bohai Bay is effective and well rewarded, said Zhu Weilin, executive vice president of CNOOC and general manager of the exploration department, adding that the company will continue exploring the area to fuel its potentials.
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