China's CNOOC Reports Major Gas Breakthrough in South China Sea

07 Jun 2024 by reuters

The logo of China National Offshore Oil Corporation (CNOOC) is seen at its booth during the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Florence Lo/File Photo Purchase Licensing Rights

CNOOC Ltd (0883.HK), opens new tab has achieved a major exploration breakthrough in an ultra-shallow gas play in ultra-deep water South China Sea, the state-owned oil and gas firm said on Thursday.

Its Lingshui 36-1 gas field, located in the western South China Sea, has been tested to produce over 10 million cubic meters per day of open flow natural gas.

"The successful testing of Lingshui 36-1 further expands the resource base for the development of a trillion-cubic-metre gas region in the South China Sea," CNOOC CEO Zhou Xinhuai said in a press release.

CNOOC will continue to step up exploration and development of hydrocarbon resources in the South China Sea and to enhance its energy supply capacity, Zhou added.

Oil & Gas

China's CNOOC Reports Major Gas Breakthrough in South China Sea

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