BEIJING: China has discovered an oilfield in the Bohai Sea with proven reserves of 104 million tons, reported China’s state-run Xinhua news agency on Wednesday.
Citing the China National Offshore Oil Corporation (CNOOC), the country’s national oil giant, the oilfield, named Qinhuangdao 27-3, is located approximately 200 kilometers (124 miles) from Tianjin municipality and has an average water depth of 25 meters (82 feet). The daily crude oil output from a single well is estimated to be around 110 tons, as per CNOOC’s assessment.
This discovery marks the sixth oilfield in the Bohai Sea with reserves exceeding 100 million tons since 2019, highlighting the promising potential for oil and gas exploration in the region, as stated by CNOOC.
Moreover, CNOOC recently announced another significant oilfield discovery in the eastern South China Sea, boasting a volume of 100 million tons.
For the year, CNOOC aims to produce between 700-720 million barrels of oil equivalent, with 69% of production from domestic operations in China and the remaining from overseas ventures.
