Sinopec Strikes High-Yielding Oil at China's Beibu Bay Test Well

Reuters

BEIJING, Jan 6 (Reuters) - Sinopec Corp said it struck high-yielding oil and gas in a test well offshore Beibu Bay near China's southwestern coast, marking a rare offshore oil and gas find by the state firm that is largely focused onshore.

The Wei-4 well, some 110 kms (68 miles) southwest of the coastal city of Beihai, tested a daily output of 1,264 tonnes of crude oil and 71,800 cubic metres of natural gas at a first layer, after identifying oil-bearing layers nearly a hundred metres thick.

On the second layer, Sinopec struck 1,184 tonnes of daily oil flow and 76,000 cubic metres of natural gas, the company said in a statement on Wednesday.

The well, drilled in the shallow part of the sea, is 3,783 metres deep. It took 29 days to drill.

"It's a high-flowing offshore test well rarely seen over the last decade," said Sinopec.

China's offshore oil and gas activities have long been dominated by Sinopec's smaller domestic peer CNOOC Ltd .

Before Beibu Bay, Sinopec's limited offshore works were mostly conducted in East China Sea where the firm discovered several natural gas fields.

(Reporting by Chen Aizhu; Editing by Richard Pullin)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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