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News // Oil and gas worldwide

A New Oil and Gas Well in China

09 October 2008 , 09:57Ksenia Kochneva702
China National Offshore Oil Company Limited (CNOOC Ltd.) announced that a new oil field was found to the east of the Yellow River mouth in Bohai Bay.

The well was drilled to a total depth of 3,235 meters, and during the drill stem test, it flowed at an average rate of 560 barrels of oil per day.

The Chinese gave it the name - Bozhong (BZ).

CNOOC Ltd. holds 100 percent interests of the new discovery and has successfully completed the drilling process, according to the company.
Listed in Hong Kong and New York, CNOOC Ltd. is the subsidiary of China National Offshore Oil Corp., the country's largest offshore oil producer.

CNOOC produced 72.9 million barrels of crude oil and 112.5 billion cubic feet of natural gas in the first half of the year, up 7.1 percent and 12.8 percent from the same period last year, respectively.

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