CNOOC hits pay in South China Sea
CNOOC Limited has made a mid-sized new discovery Lufeng14-4 in the Eastern South China Sea.
The Lufeng14-4 structure is located in Lufeng Sag in the Pearl River Mouth Basin of the South China Sea with an average water depth of 145 meters.
The discovery well Lufeng14-4-1 was drilled and completed at a depth of 4,098 meters and encountered oil pay zones with a total thickness of approximately 150 meters. The oil production of the well tested around 1,320 barrels per day.
CNOOC said that the successful exploration of Lufeng14-4 demonstrated the company’s remarkable breakthrough in the exploration area of the Paleogene System, and further proved the huge exploration potential of the Paleogene System in the Pearl River Mouth Basin.