CNOOC Ltd announced Wednesday a “major” discovery in the Qinhuangdao 29-6 oilfield in the central Bohai Sea with estimated in-place resources of over 100 million oil equivalent tons.
“The main oil-bearing play is Neogene Minghuazhen Formation, characterized by shallow burial depth”, CNOOC Ltd, majority-owned by China National Offshore Oil Corp, said in an online statement. “The oil property is medium-heavy crude.
“The discovery well was drilled and completed at a depth of 1,688 meters [5,538.06 feet], which encountered a total of 66.7 meters oil pay zones and was tested to produce approximately 2,560 barrels of crude oil per day”.
CNOOC Ltd chief geologist Xu Changgui, said, “CNOOC Ltd has made a significant discovery through enhanced research on hydrocarbon migration and accumulation models in shallow Neogene slope zones, coupled with technological innovation. This achievement challenges the conventional understanding that slope areas merely serve as pathways for hydrocarbons rather than sites for substantial accumulation. It further highlights the considerable exploration potential of uplifted peripheral slopes in settings influenced by intense extensional-strike-slip faulting”.
“Qinhuangdao 29-6 oilfield is the second one-hundred-million-ton-class lithological oilfield discovered in the mature exploration area of the Shijiutuo Uplift, further highlighting the value of fine exploration and consolidating the resource base for increasing reserves and production for the company”, CNOOC Ltd said.
This is CNOOC Ltd’s second announced discovery in 2025 to exceed 100 million oil equivalent tons, after the Huizhou 19-6 oilfield in the South China Sea.
“The main oil-bearing plays are Paleogene Enping Formation and Wenchang Formation, and the oil property is light crude”, CNOOC Ltd said in a press release March 31 announcing the Huizhou 19-6 discovery.
“The discovery well HZ19-6-3 was drilled and completed at a depth of 5,415 meters, which encountered a total of 127 meters oil and gas pay zones. The well was tested to produce 413 barrels of crude oil and 2.41 million cubic feet of natural gas per day”.
“In recent years, CNOOC Ltd has strengthened the research on exploration theory and technology of the deep and ultra-deep plays in the South China Sea, and breakthroughs have been achieved. This discovery has confirmed the largest integrated clastic oilfield in the northern South China Sea in terms of original oil in place, breaking the traditional theoretical understanding, and demonstrating the enormous exploration potential of deep and ultra-deep plays in high-temperature and highly active basins offshore China”, Xu said then.
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