CNOOC makes gas discovery in South China Sea

Want China Times, Xinhua 2014-03-20

A CNOOC oil drilling platform in Qinhuangdao, Hebei province. (Photo/Xinhua)

China National Offshore Oil Company (CNOOC) announced Wednesday it recently made a new mid-sized gas discovery called Lingshui17-2.

It is the company's first deepwater exploration breakthrough in Qiongdongnan Basin in the South China Sea.

Lingshui17-2 is in east Lingshui Sag in the deepwater area of the basin, with an average water depth of about 1,450 meters.

The discovery well was drilled and completed at a depth of 3,510 meters and encountered the gas reservoir with a total thickness of about 55 meters.

The discovery has not only proven the exploration potential of Lingshui Sag, but also further confirmed good exploration prospects in the deepwater area of Qiongdongnan Basin, said the CNOOC.

Listed in Hong Kong and New York, the CNOOC is the largest offshore oil and gas producer in China.