CNOOC Makes Mid-sized Oil Discovery In South China Sea
China’s CNOOC Ltd. said May 27 that it made a mid-sized discovery, Liuhua 20-2, in the eastern South China Sea.
The Liuhua 20-2 structure is in the Northern Slope Belt of Baiyun Sag in the Pearl River Mouth Basin of the South China Sea. The average water depth is about 390 m.
The discovery well, LH20-2-1, was drilled and completed at about 2,790 m total depth. It struck 35.2-m thick oil pay zones. LH20-2-1 produced about 8Mbbl/d. The oil’s density is about 0.75, the company said.
Baiyun Sag has “huge exploration potential,” CNOOC said. The area in the Pearl River Mouth Basin is expected to become the new reserves growth area of deepwater exploration of crude oil in South China Sea.