China has discovered an offshore oilfield with 200 million cubic metres of reserves in the Bohai Bay.
The China National Offshore Oil Corporation, China's largest offshore oil company, announced that it discovered the new oil field in Bohai Bay this year.
CNOOC made the announcement on Wednesday after the discovery of the Jinxian (JX) 1-1 high yield oil-bearing structure while drilling the JX1-1-2D well in Liaodong Bay, in the eastern part of Bohai Bay.
The JX1-1-2D was dug last August with a depth of 3,143 meters. The well encountered about 31.5 meters of pay zones.
Drill stem tests were conducted at various intervals. On 7.94 mm and 11.91 mm chokes, the well flowed about 1,000 barrels of crude oil and more than 730,000 cubic feet of gas per day.
So far, CNOOC has made eight new discoveries in Bohai Bay with an estimated oil reserve of 200 million cubic meters and gas reserve of 1.5 billion cubic meters.
The discoveries make it possible for the Bohai Bay to turn out 30 million cubic meters of oil by 2010, Xinhua news agency quoted a senior manager of CNOOC as saying.
According to the company, the Bohai Bay produced 14 million cubic meters of oil and gas this year, becoming the third largest oilfield of the country.
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