China's state-owned China National Offshore Oil Corporation (CNOOC) has announced the discovery of a substantial crude oil reserve in the South China Sea, estimated to exceed 100 million tons.
Details of the Discovery
Location: The oilfield, named Huizhou 19-6, is situated approximately 170 kilometers off the coast of Guangdong province, within China's Exclusive Economic Zone.
Production Capacity: Test drilling has yielded 413 barrels of crude oil and 68,000 cubic meters of natural gas per day, indicating significant production potential.
Technical Challenges: The discovery was made in deep to ultra-deep layers, presenting challenges such as high temperatures and pressures.
Implications
This discovery marks a breakthrough in China's offshore oil exploration, being the country's first large-scale integrated clastic oilfield found in such deep layers. It underscores China's efforts to enhance its energy security and reduce dependence on imported oil.
