China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has made a major oil discovery in the Bohai Sea, dubbed Qinhuangdao 29-6, adding over a 100 million tons of oil equivalent in-place.
The oil property at the Qinhuangdao 29-6 oil field is medium-heavy crude, with the main oil-bearing play being Neogene Minghuazhen Formation, characterized by shallow burial depth.
The discovery well was drilled and completed at a depth of 1,688 meters, which encountered a total of 66.7meters oil pay zones and was tested to produce approximately2,560 barrels of crude oil per day, according to CNOOC.
Through continued exploration, the proved in-place volume of Qinhuangdao 29-6 oil field has exceeded 100million tons of oil equivalent, the company reported.
“CNOOC Limited has made a significant discovery through enhanced research on hydrocarbon migration and accumulation models in shallow Neogene slope zones, coupled with technological innovation.
“This achievement challenges the conventional understanding that slope areas merely serve as pathways for hydrocarbons rather than sites for substantial accumulation. It further highlights the considerable exploration potential of uplifted peripheral slopes in settings influenced by intense extensional-strike-slip faulting,” said Xu Changgui, the Chief Geologist of CNOOC.
Qinhuangdao 29-6 oil field is the second 100-million-ton-class lithological oilfield discovered in the mature exploration area of the Shijiutuo Uplift, further highlighting the value of fine exploration and consolidating the resource base for increasing reserves and production for the company.