CNPC Finds Oil, Gas Shows in Disputed Waters in South China Sea

China National Petroleum Corporation (CNPC) announced Tuesday that the petroleum drilling and exploration operation of Zhongjiannan Project in the South China Sea was smoothly completed on schedule July 15 with oil and gas shows found. In accordance with the work procedures of deepsea petroleum exploration and development, a comprehensive assessment of hydrocarbon horizons is to be implemented based on the geological and analytical data collected through the drilling and exploration operation. Next phase arrangements are subject to the aforesaid comprehensive assessment.

Since 2004, CNPC has been conducting geophysical prospecting activities mainly for seismic data acquisition in this sea area based on intensive and comprehensive geological study. As a result, the exploration targets were locked, and the well locations were identified. In 2013, well site survey was conducted.

CNPC started the drilling of two exploratory wells of Zhongjiannan Project May 2, and finished the drilling of No.1 exploratory well May 27. We started drilling No.2 well May 28, and the drilling of this well completed today.

The operation is undertaken by the drilling platform Hai Yang Shi You 981 (UDW semisub) run by China Oilfield Services Limited ( COSL).

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