Offshore staff
HONG KONG — CNOOC’s review of gas in place at the deepwater Baodao 21-1 gas condensate field has passed the Chinese governmental review.
The discovery is in Baodao Sag, Qiongdongnan Basin in the western South China Sea, where water depths range from 660 m to 1,570 m. The main gas-bearing layer is the Paleogene Lingshui Formation.
The Baodao 21-1-1 well, completed at a depth of 5,188 m, encountered 113 m of pay on average 587,000 cu m/d of gas during testing.
A review by governmental bodies certified the proven in-place reserves at more than 50 Bcm of gas and 3 MMcm of condensate.
According to CNOOC, there is the basis in the area for construction of a trillion cubic meters of gas production base.
CEO Zhou Xinhuai said, "We have accelerated the pace to explore in deep waters, targeting the discovery of large and medium-sized oil and gas fields. We emphasized geological theory and technological research to make breakthroughs and to bolster our efforts in reserves and production growth.”
Earlier this year, CNOOC issued an Announcement of Notification for Bidding Blocks Offshore China of 2022. This comprises 13 blocks covering an area of 17,205 sq km, including one in Bohai Bay (330 sq km), 11 in the Pearl River Mouth Basin (16,235 sq km) and one in Yinggehai Basin (of 640 sq km).
For deepwater/deep formation areas, the company said it would adopt flexible and preferential business arrangements in terms of the exploration period, relinquishment, signature fee, participating interest with a view to expanding cooperation with foreign enterprises in Chinese offshore oil and gas exploration and development.
The data room is available for viewing until Dec. 31, 2022, with the closing date for bids on Feb. 28, 2023.
10.20.2022
