Deep Sea Miracle! Daily Production Breaks The 10 Million Mark!

CNOOC has made a major breakthrough in the exploration of Lingshui 36-1 gas field in the western waters of the South China Sea. The gas field is located in an area with an average water depth of about 1,500 meters, and its main gas-bearing formation is the Quaternary Ledong Formation reservoir, with an average gas depth of 210 meters. The test results of the exploratory well show that its unimpeded gas flow rate exceeds 10 million cubic meters per day, which marks China's significant progress in the exploration of ultra-deepwater and ultra-shallow gas reservoirs in the South China Sea.

Mr. Xu Changgui, Deputy Chief Exploration Engineer of CNOOC, 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 ultra-shallow reservoirs in the future, so as to make contribution to the utilization of new natural gas resources and to accelerate the exploration and development of deep-sea oil and gas resources. This will contribute to the utilization of new natural gas resources and the acceleration of deep-sea oil and gas resources exploration and development."

Mr. Zhou Xinhuai, Chief Executive Officer and President of CNOOC, said, "The South China Sea is one of the main battlefields for the Company to increase 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 Atmosphere Area'. The company will continue to increase the South China Sea oil and gas exploration and development efforts, and constantly improve the energy supply capacity."

The breakthrough not only demonstrates CNOOC's strength in the field of deep-sea oil and gas exploration and development, but also injects a new impetus for China's sustained development in the energy sector. With the continuous progress of technology and increased exploration efforts, I believe CNOOC will play a more important role in the future energy market.