CNOOC Ups Ante with New Bohai Bay Discovery

CNOOC has successfully made a new discovery at the Qinhuangdao (QHD) 35-4 well in the Shijiutuo Uplift of China's Bohai Bay.

The new discovery well QHD35-4 is located in the south of the Shijiutuo Uplift in the north central area of Bohai Bay, about 38 kilometers west of the QHD32-6 oil field.

The Company has drilled wells on this structure before. The discovery well QHD35-4-3 penetrated oil pay zones with total thickness of 21.4 meters and proved QHD35-4 as a middle-size oil field. The well was drilled to a total depth of 2,215 meters, at water depth of about 26 meters.

During the drill stem test, the well was tested to flow at an average rate of 1,700 barrels of oil and 400 thousand cubic feet of natural gas per day via 11.11mm choke.

Mr. Zhu Weilin, Executive Vice President of the Company and General Manager of Exploration Department commented, "New discovery QHD 35-4 is one of the discoveries the Company has made around Shijiutuo Uplift. This area is expected to become new growth point for our reserves."