Chinese state-owned oil and gas giant China National Offshore Oil Corporation (CNOOC) has undertaken appraisal drilling activities at a well off the coast of China, fueling its expectations that the hydrocarbon discovery will become a medium-sized oilfield.
While disclosing a high yield well in Beibu Gulf, the Chinese player underlined that the WS16-5-4 appraisal well was drilled and completed at a depth of 4,185 meters, encountering a total of 65 meters of oil pay zones . Located in Wushi Sag, Beibu Gulf, the Wushi 16-5 structure lies in an average water depth of approximately 25 meters.
Xu Changgui , CNOOC’s Chief Geologist, commented: “CNOOC Limited has been pushing forward the rolling exploration in the surrounding area of Wushi oilfields for years with leading technologies. The successful well proves the promising exploration potential in the mature area of Wushi Sag, which will guide our rolling exploration activities in offshore China.”
The WS16-5-4 well, which was tested to produce over 1,000 cubic meters of oil equivalent per day, is said to be the first with such productivity in Wushi Sag. According to CNOOC, the total proved oil in place of the Wushi oilfields has exceeded 100 million cubic meters so far.
The Chinese giant’s latest milestone comes shortly after it revealed the performance of its first ultra-deep well in Bohai Bay, said to have outperformed its set oil and gas target, alongside a new hydrocarbon discovery , which the firm describes as a “major exploration breakthrough.”
The ramp-up in offshore drilling is aligned with the firm’s business strategy and development plan for 2024. CNOOC is also working on boosting its low-carbon efforts as illustrated by the start-up of the first oilfield in the South China Sea, which is receiving power from shore.