Nine new discoveries were made and 22 oil and gas structures were successfully appraised in 2023, according to CNOOC's "2023 Annual Results" presentation
CNOOC has discovered oil and gas in the Mesozoic buried hill play offshore eastern Bohai Bay, China.
The Longkou 7-1 Field is in a water depth of about 26 m. The LK7-1-1 well, drilled and completed at a depth of 4,400 m, encountered 76 m of oil and gas pay zones.
During testing, the well flowed about 210 cu. m/d of crude oil and nearly 1 MMcm/d of gas, the latter representing a test record in Bohai Bay.
Deputy CEO Xu Changgui said, “The successful well demonstrates the broad exploration prospect in Mesozoic volcanic rocks in Bohai Bay…The expertise we gained will guide our exploration in similar plays offshore China.”
CEO and President Zhou Xinhuai added, “CNOOC will continue to think out of the box to deepen our geological understanding and foster technological innovation. We will ramp up our efforts in oil and gas exploration and development…”
