CNOOC Strikes Twice in Bohai Bay

CNOOC has successfully drilled two appraisal wells, BZ 34-1-5 and BZ34-1-4, in Bohai Bay, offshore China.

BZ 34-1-5, with a water depth of 21 meters, is an appraisal well drilled on BZ 34-1 discovery. On 7.14mm choke, the appraisal well was tested to flow nearly 400 barrels of 31-33 API degree oil per day during drill stem test 1(''DST''). The well also produced about 5.37 million cubic feet of gas per day on a 9.53 mm choke during drill stem test 2.

Another successful well BZ34-1-4 on the same discovery encountered gas pay zones of 16 meters and oil zones of 38 meters.

Mr. Zhang Guohua, Senior Vice President of the Company commented, ''It's a good start for this year's Bohai Bay exploration program.''

CNOOC limited is the operator with a 100% interest of the discovery.