Global Processing

China CNOOC strikes oil, gas in new Bohai Bay well

July 7, 2008
According to Reuters, top Chinese offshore oil and gas producer CNOOC Ltd announced recently that it had struck oil and gas at a wildcat well in north China''s Bohai Bay.

KL 10-1-1 well, drilled independently by CNOOC, spud about 980 barrels of crude and 100,000 cubic feet of gas per day, the company said on its website.

The offshore specialist aims to build Bohai field China''s second-largest crude producer in a few years'' time, overtaking the aging onshore field Shengli, company executives said last October.

By October 2007, CNOOC was pumping about 274,000 barrels per day of crude at Bohai Sea from 29 fields.