Chinese oil major Cnooc Ltd. has discovered oil in the Kenli 10-2 oil field in the southern Bohai bay in northeastern China.
The crude discovered was conventional heavy oil and the appraisal well was tested to produce 569 barrels of oil a day, the company said Thursday.
The discovery follows its Sept. 24 announcement that its oil-production project in the Bozhong 19-4 oil field, also in the southern Bohai sea, had commenced production. The project is expected to reach a peak production of approximately 11,000 barrels of crude oil a day in 2022, it said.
The Bohai area is the most important oil-and-gas producing region for Cnooc, with 1.44 billion barrels of oil equivalent of resource reserves and a production of 477,374 barrels of oil equivalent a day as of 2020, it said. This is about a third of the company’s total domestic production.
The company has other oil-and-gas producing operations in the South China Sea and holds equity interests in overseas production facilities as well.