China National Offshore Oil Corporation (CNOOC) Announced That It Has Made A Major Exploration Breakthrough in The Western Part Of The South China Sea!

China National Offshore Oil Corporation (CNOOC) announced that it has made a major breakthrough in the field of exploration of ultra-deepwater and ultra-shallow gas layer in the South China Sea!

Lingshui 36-1 gas field is located in the western waters of the South China Sea, with an average water depth of about 1500 meters. The main gas-bearing layer system is the Quaternary Ledong Formation reservoir, with an average gas depth of 210 meters, and the unimpeded gas flow rate of the exploratory well test exceeds 10 million cubic meters per day.

Mr. Xu Changgui, Deputy Chief Exploration Engineer of the Company, said, "The exploration of ultra-deepwater and ultra-shallow gas reservoirs in the South China Sea is facing a lot of world-class engineering challenges, and the successful test of Lingshui 36-1 marks a major breakthrough in this field of exploration, and CNOOC will continue to carry out the exploration and development of key technologies of the ultra-shallow reservoirs in the future, so as to make contribution to the utilization of the new type of natural gas resources and to accelerate the exploration and development of deep-sea oil and gas resources. We will contribute to the utilization of new natural gas resources and accelerate the exploration and development of deep sea oil and gas resources."

Mr. Zhou Xinhuai, Chief Executive Officer and President of the Company, said, "The South China Sea is one of the Company's main battlegrounds for increasing natural gas reserves and production, and the successful test of Lingshui 36-1 has further strengthened the resource base of the South China Sea's 'trillion-dollar atmospheric area'. The Company will continue to increase its efforts in oil and gas exploration and development in the South China Sea to continuously enhance its energy supply capacity."