China’s CNOOC Discovers Billion-Ton Oilfield In The South China Sea

China National Offshore Oil Corporation (CNOOC) has announced a major oil discovery in the deep and ultra-deep waters of the South China Sea.

The newly identified Huizhou 19-6 oilfield holds proven geological reserves exceeding 100 million tons of oil equivalent.

The oilfield located in the eastern South China Sea, around 170 kilometers off Shenzhen’s coast lies at an average water depth of 100 meters.

The discovery well, HZ19-6-3, reached a total depth of 5,415 meters and encountered 127 meters of oil and gas layers.

Initial production tests show an output of approximately 413 barrels of crude oil and 2.41 million cubic feet (68,000 cubic meters) of natural gas per day.

The main oil-bearing formations in this field are the Enping Formation and Wenchang Formation from the Paleogene period, with the extracted crude classified as light oil.

Company officials have said that Huizhou 19-6 is China’s first large-scale integrated clastic oilfield discovered in deep to ultra-deep layers.

Such formations present challenges due to high temperatures and pressures, making exploration and extraction more complex.

In recent years, CNOOC has identified its efforts in deep-sea drilling by adopting new geological theories and advanced technology, leading to this significant finding.

According to the company, this discovery is the largest clastic oilfield found in the northern South China Sea, changing traditional geological assumptions and revealing greater potential for deep-sea oil exploration in China’s offshore basins.

CNOOC has been making continuous discoveries in the South China Sea, with billion-ton oilfields found in the region for two consecutive years.

The company plans to increase investment in exploration and development to expand reserves and production.

The Huizhou 19-6 oilfield is located within China’s Exclusive Economic Zone (EEZ), which extends 200 nautical miles (370 km) from the country’s coastline. This places the oilfield outside any disputed territory in the South China Sea.

Reference: CNOOC

Source: Maritime Shipping News