Two New Exploration Discoveries in Bohai

Two New Exploration Discoveries in Bohai

CNOOC Limited (the “Company”, NYSE: CEO, SEHK: 00883) today announced that the Company has made two new exploration discoveries Bozhong 8-4 and Kenli 10-4 in Bohai.
Bozhong 8-4 is located in the west slope of Bozhong Sag in Bohai, with an average water depth of about 28 meters. The discovery well Bozhong 8-4-4 is drilled and completed at a depth of 1,962 meters and encountered oil pay zones and gas reservoir with a total thickness of about 50 meters and 11 meters, respectively. During the test period, the oil production of the well was around 660 barrels per day.
Kenli 10-4 is located in the south slope of Laizhou Bay Sag in Bohai, with an average water depth of about 15 meters. The discovery well Kenli 10-4-1 is drilled and completed at a depth of 2,395 meters and encountered oil pay zones with a total thickness of about 45 meters. During the test period, the oil production of the well was around 2,800 barrels per day.
Mr. Zhu Weilin, Executive Vice President of the Company and General Manager of Exploration Department commented, “The successful discovery of Bozhong 8-4 and KL 10-4 has extended our effective exploration activities in Bohai and further proven the rich oil and natural gas resources in this area.”
Source: www.cnoocltd.com
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