New oil discovery in the Bohai Sea by CNOOC

CNOOC Limited announced the discovery of the Bozhong 26-6 oil field in the Bohai Sea. This new discovery strengthens the company's position and offers new exploration prospects for subtle buried hills in the region.

Share:

CNOOC Limited announced today that it has discovered the Bozhong 26-6 oil field in the Bohai Sea, raising reserves to several hundred million tons.

The composition of the deposit and its characteristics

The Bozhong 26-6 field is located in the southern Bohai Sea at an average depth of 22 meters. The main oil area is the Archean buried hill and the oil property is slightly crude. The BZ26-6-2 discovery well was drilled and completed to a depth of 4480 meters, encountering a total of 321.3 meters of oil producing zones. The well has been tested to produce an average of approximately 2040 barrels of crude oil and 11.45 million cubic feet of natural gas per day.

Reactions of the company’s managers

The Bozhong 26-6 discovery is the third oil field discovery with several hundred million tons of reserves in the South Bohai Sea after Kenli 6-1 and Kenli 10-2. This discovery has been identified as the largest buried hill metamorphic oil field in China. Mr. Xu Changgui, deputy chief exploration engineer of the company, said that this discovery demonstrates the broad exploration prospects for the subtle buried hills in the Bohai Sea, providing an important direction for exploration in similar basins. Mr. Zhou Xinhuai, CEO of the company, said that the Bohai Sea has been one of the targeted exploration areas for the company. CNOOC will continue to search for medium to large oil and gas fields and continue to discover new offshore oil and gas development, helping to strengthen the resource base for the company’s high-quality and sustainable development.

 

This new oil discovery strengthens CNOOC’s position as one of China’s leading offshore oil and gas producers. The company is committed to continuing to explore and discover new reserves to support its growth and meet the increasing demand for oil and gas in China.

  • Populaires ​
HyperStrong and Repono launch 1.4 GWh of energy storage in Europe by 2027
Q ENERGY raises €109 million from BPCE Energeco for renewable projects
Badenova invests $4.64 billion to transform its energy infrastructure by 2050
Geothermal investment jumps 85% driven by new technologies
TCL Solar signs strategic 250MW agreement for Pakistani market
Ecuador: Partial Resumption of Oil Transport After Major Climatic Disruptions
The private OCP pipeline has resumed operations in Ecuador following an interruption caused by heavy rains, while the main SOTE pipeline remains shut down, continuing to impact oil exports from the South American country.
McDermott awarded major offshore contract by BRAVA Energia in Brazil
McDermott secures contract worth up to $50 million with BRAVA Energia to install subsea equipment on the Papa-Terra and Atlanta oil fields off the Brazilian coast.
Saudi Aramco Sharply Raises Crude Prices for Asia in August
Saudi Aramco increases its oil prices for Asia beyond initial expectations, reflecting strategic adjustments related to OPEC+ production and regional geopolitical uncertainties, with potential implications for Asian markets.
Liberian-Flagged Bulk Carrier Attacked in Red Sea, Israel Strikes Back in Yemen
A bulk carrier operated by a Greek company sailing under a Liberian flag suffered a coordinated attack involving small arms and explosive drones, prompting an Israeli military response against Yemen's Houthis.
Canada Awaits Private Sector Decision on Alberta-Pacific Pipeline
The Canadian government is now awaiting a concrete private-sector proposal to develop a new oil pipeline connecting Alberta to the Pacific coast, following recent legislation intended to expedite energy projects.
Petrobras Considers Strategic Sale of Polo Bahia Oil Hub
Petrobras is exploring various strategies for its Polo Bahia oil hub, including potentially selling it, as current profitability is challenged by oil prices around $65 per barrel.
Azevedo & Travassos acquires Petro-Victory to strengthen its Brazilian onshore portfolio
Brazilian producer Azevedo & Travassos will issue new shares to buy Petro-Victory and its forty-nine concessions, consolidating its onshore presence while taking on net debt of about USD39.5mn.
OPEC+ Significantly Raises Oil Quotas with Additional 548,000 Barrels
Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.
UK’s Lindsey refinery faces shutdown within three weeks, according to Wood Mackenzie
Lindsey refinery could halt operations within three weeks due to limited crude oil reserves, according to a recent analysis by energy consultancy Wood Mackenzie, highlighting an immediate slowdown in production.
Libya reopens the Hamada-Zawiya pipeline after six-week shutdown
The flow of crude between the Hamada field and the Zawiya refinery has resumed after emergency repairs, illustrating the mounting pressure on Libya’s ageing pipeline network that threatens the stability of domestic supply.
Gabon reactivates deep offshore blocks to stem oil decline
Libreville is intensifying the promotion of deep-water blocks, still seventy-two % unexplored, to offset the two hundred thousand barrels-per-day production drop recorded last year, according to GlobalData.
Afreximbank raises to $375 mn the reserve-based credit for Oando
The African Export-Import Bank extends the Nigerian oil company’s facility, providing room to accelerate drilling and modernisation by 2029 as international lenders scale back hydrocarbon exposure.
Petronas Launches Strategic Drilling Campaign Offshore Suriname
Petronas begins a three-well exploratory drilling campaign offshore Suriname, deploying a Noble rig after securing an environmental permit and closely collaborating with state-owned company Staatsolie.
Glencore in talks with London over future of insolvent Lindsey oil refinery
Swiss commodities trader Glencore has initiated discussions with the British government regarding its supply contract with the Lindsey refinery, placed under insolvency this week, threatening hundreds of jobs and the UK's energy security.
Mauritania: Sonatrach and SMH launch strategic partnership in downstream oil sector
Facing an under-equipped downstream sector, Mauritania partners with Sonatrach to create a joint venture aiming to structure petroleum products distribution and reduce import dependency, without yet disclosing specific investments.
Dalinar Energy wins recommendation to acquire Citgo with $7.38bn bid
Dalinar Energy, a subsidiary of Gold Reserve, receives official recommendation from a US court to acquire PDV Holdings, the parent company of refiner Citgo Petroleum, with a $7.38bn bid, despite a higher competing offer from Vitol.
Global Oil Exploration Investments Decline, a First Since 2020
Oil companies may reduce their exploration and production budgets in 2025, driven by geopolitical tensions and financial caution, according to a new report by U.S. banking group JP Morgan.
US oil inventories unexpectedly rise by 3.8 million barrels
Commercial oil inventories in the United States rose unexpectedly last week, mainly driven by a sharp decline in exports and a significant increase in imports, according to the US Energy Information Administration.
TotalEnergies acquires 25% stake in Block 53 in Suriname and strengthens its offshore presence
TotalEnergies acquires a 25% stake in Block 53 offshore Suriname, joining APA and Petronas after an agreement with Moeve, thereby consolidating its expansion strategy in the region.
Prax Group files for insolvency in the UK after losses at Lindsey refinery
British company Prax Group has filed for insolvency, putting hundreds of jobs at its Lindsey oil site at risk, according to Sky News.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS