China National Offshore Oil Corporation (CNOOC) has announced a “major breakthrough” in the exploration of Paleozoic buried hills within the Beibu Gulf Basin.
The discovery was made through exploration well WZ10-5-1Sa at the Weizhou 10-5 oil and gas field, which is located in the Beibu Gulf in the South China Sea at an average water depth of around 37m.
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The well has encountered an oil and gas pay zone of 283m. It was drilled to a total depth of around 4,840m.
The test result shows that the well produces approximately 13.2 million cubic feet (mcf) of natural gas and around 800 barrels (bbl) of crude oil per day.
CNOOC chief geologist Xu Changgui said: “The Weixinan Sag in the Beibu Gulf Basin is one of the most explored sags offshore China. In recent years, the company has been researching on the reservoir formation theories of the complex buried hills and the relevant technologies needed.
“The breakthrough in the exploration of Paleozoic granite buried hills reveals the vast exploration prospects of the buried hills in the Beibu Gulf Basin. It will also provide guidance for exploration in similar fields offshore China.”
CNOOC CEO Zhou Xinhuai said: “In recent years, the company has made large and medium-sized oil and gas discoveries in various types of buried hills offshore China, which have been further expanding the company’s oil and gas resource base. The discovery in the Beibu Gulf Basin will help to stabilise energy supply and continuously contribute to the economic and social development.”
Last month, CNOOC initiated production from its Luda 5-2 North Oilfield phase two development project.
This field is located in the central part of the Bohai Sea at an average water depth of approximately 30m.
Last month, the company also announced the commencement of operations at the Buzios7 project within the Buzios field.
The Buzios field is situated in the pre-salt layer of the Santos Basin offshore Brazil, where the water depth is 1,900–2,200m.
It is claimed to be the world’s largest deep-water pre-salt oilfield.
