In a press release posted on its website not too long ago, CNOOC Restricted introduced that it has made a “main” oilfield discovery within the deepwater, deep-play of the South China Sea.
The Kaiping South discover provides over 100 million tons of oil equal proved in-place quantity, in accordance CNOOC, which outlined that the primary oil-bearing performs of the invention are the Zhuhai Formation, Enping Formation, and Wenchang Formation of Paleogene. The oil property is mild crude, the corporate highlighted within the assertion.
The KP18-1-1d discovery properly of Kaiping South was drilled and accomplished at a depth of three,462 meters and encountered a complete of 100.6 meters oil and fuel pay zones, the assertion revealed. The properly was examined to supply a median of roughly 7,680 barrels of crude oil and 0.52 million cubic ft of pure fuel per day, CNOOC famous within the assertion, including that, by way of continued exploration, the proved in-place quantity of Kaiping South has reached 102 million tons of oil equal.
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“Kaiping South Oilfield is China’s first deepwater and deep-play oilfield with proved in-place quantity over 100 million tons,” Xu Changgui, the Deputy Chief Exploration Officer of CNOOC, mentioned within the assertion.
“The invention absolutely demonstrates the broad prospects for exploration in deepwater South China Sea and additional expands the useful resource base for the corporate’s high-quality growth,” Changui added.
Zhou Xinhuai, the CEO and President of CNOOC, famous within the assertion that, “in recent times, CNOOC Restricted has achieved exceptional breakthroughs in oil and fuel exploration within the japanese South China Sea, constructing a brand new development pole for offshore oil and fuel manufacturing”.
“The corporate stays dedicated to grease and fuel assets exploration and growth within the South China Sea, thereby repeatedly enhancing its power provide capability,” Xinhuai added.
In a press release posted on its website on January 26, which targeted on the corporate’s enterprise technique and growth plan for 2024, CNOOC mentioned it strives to seek for massive and medium-sized oil and fuel fields, and that it “continues to strengthen the useful resource base for growing reserves and manufacturing”.
“In 2024, the exploration workload will stay at a excessive degree. The corporate will improve its efforts in pure fuel exploration and push ahead the development of three trillion-cubic-meters-level fuel areas, within the South China Sea, the Bohai Sea, and onshore China respectively,” CNOOC famous in that assertion.
“In 2023, the corporate made new exploration discoveries with proved in-place quantity of over 100-million-tons BOE [barrels of oil equivalent] within the Bohai Sea and deepwater South China Sea, realizing new discovery of 100-million-tons in-place quantity for 5 consecutive yr[s],” it added.
The final discovery CNOOC introduced on its website got here on October 24, 2023, when the corporate mentioned it had found the Shenfu deep coalbed methane (CBM) subject in China, “including proved fuel in-place of over 100 billion cubic meters”.
In that assertion, CNOOC outlined that, with continued analysis and exploration, it superior its understanding of deep coalbed methane formation mechanisms, reservoir transformation, and differentiated drainage know-how, which it mentioned led to the invention of the Shenfu deep CBM subject.
The sphere’s discovery properly – SM2-33-CH1 – encountered 16.5 meters of coal seam at a burial depth of roughly 2,011 meters, which was examined to supply roughly 19,000 cubic meters per day after fracturing operations, CNOOC revealed within the assertion. Chinese language governmental authorities have evaluated and accepted proved fuel in-place of over 110 billion cubic meters on the website, CNOOC identified within the assertion, highlighting that this makes it “China’s first massive deep CBM subject of the dimensions”.
“It’s one other main onshore discovery by CNOOC Restricted after the invention made in Linxing, Shanxi Province, with related proved fuel in-place volumes,” the corporate mentioned within the assertion.
“The invention of the Shenfu deep CBM subject demonstrates the broad prospect of exploration and growth within the japanese fringe of the Ordos Basin,” Changgui famous in that assertion.
“It can present vital steering for our exploration in related basins and facilitate the expansion of our reserves and manufacturing of unconventional oil and fuel,” Changgui added.
Xinhuai mentioned in that assertion that “the invention lays a stable basis for the corporate to construct a big onshore fuel manufacturing base, which is able to faucet as much as one trillion cubic meters of proved fuel in-place”.
“To that finish, we are going to proceed to step up our efforts within the exploration and growth of onshore unconventional fuel, to extend our reserves and manufacturing, and to contribute to the high-quality growth of the corporate,” Xinhuai added.
CNOOC (China Nationwide Offshore Oil Company) describes itself as the most important offshore oil and fuel producer in China. On its website, the corporate notes that it was established as a “state-owned mega firm” with the approval of the State Council on February 15, 1982.
To contact the writer, electronic mail andreas.exarheas@rigzone.com
