Offshore

In December 2017, at exploration well Bozhong 19-61 in the Bohai Sea off North China, CNOOC tapped 348 meters of gas bearing deposit and 25 meters of oil-bearing structure, and tested daily gas flows of 6.4 million cubic feet.

Bozhong 29-6, also in the Bohai Sea, is an oil find with potentially 100 million tons of oil reserve in place. CNOOC completed eight appraisal wells by August 2018.

Lingshui 17-2, 150 kilometers off South China’s Hainan Province is CNOOC’s single-largest fullyowned deepwater find. CNOOC made final investment decision in March 2018 and total investment is estimated at 20 billion yuan ($2.98 billion).

The block, at an average water depth of 1,450 meters (4,750 feet), has recoverable reserves of 2.5 trillion cubic feet as estimated by analysts at Wood Mackenzie and IHS Markit.