CNOOC Limited Highlights Exploration Success in Beibu Gulf Basin
CNOOC Limited, a leading company in the energy sector, has achieved a significant milestone in the exploration of buried hills in the Beibu Gulf Basin. The recent discovery showcases the ongoing dedication of the company to advancing energy exploration and ensuring a stable energy supply.
Exploration Details of the Weizhou 10-5 Oil and Gas Field
The Weizhou 10-5 oil and gas field, situated in the Beibu Gulf, presents promising prospects for natural gas and crude oil extraction. With an average water depth of around 37 meters, the exploration well WZ10-5-1Sa struck an impressive oil and gas pay zone measuring 283 meters, reaching a total drilled depth of approximately 4,840 meters.
Test results reveal the well produces approximately 13.2 million cubic feet of natural gas and around 800 barrels of crude oil daily, marking a pivotal breakthrough for natural gas exploration specifically within the granite buried hills in this region.
Expert Insights on the Discovery
Mr. Xu Changgui, Chief Geologist at CNOOC Limited, emphasized the importance of the Weixinan Sag in the Beibu Gulf Basin, describing it as one of the most extensively explored offshore areas. He noted that recent research focused on the reservoir formation theories related to the complex buried hills has led to this breakthrough, unveiling vast exploration potential and providing valuable insights for other similar offshore fields.
Moreover, Mr. Zhou Xinhuai, the Company's Chief Executive Officer, shared that CNOOC has recently achieved notable oil and gas discoveries within various types of buried hills offshore. These findings not only expand the company’s resource base but also play an instrumental role in stabilizing energy supply and contributing to broader economic growth.
Future Exploration Prospects and Technological Advancements
The breakthrough achieved on this exploration front stands as a testament to CNOOC Limited’s commitment to harnessing innovative technologies and methodologies in the energy sector. As the company continues to invest in research and exploration, it aims to further solidify its position as a leader in the global energy market.
While the company looks forward to future ventures in the Beibu Gulf Basin and beyond, it acknowledges the importance of sustainable practices in its exploration activities to meet modern environmental and regulatory standards.
Frequently Asked Questions
What recent discovery has CNOOC Limited made?
CNOOC Limited has made a significant discovery in the Beibu Gulf Basin, achieving a substantial oil and gas pay zone in the Weizhou 10-5 field.
How much natural gas and oil is being produced daily from the new well?
The WZ10-5-1Sa well produces approximately 13.2 million cubic feet of natural gas and about 800 barrels of crude oil each day.
Who commented on the discovery's importance for the company?
Mr. Xu Changgui, Chief Geologist, and Mr. Zhou Xinhuai, Chief Executive Officer, both provided insights into the significance of the discovery for the company and the energy sector.
What does this breakthrough mean for future exploration?
This breakthrough reveals the vast exploration prospects of the buried hills in this region and will guide future endeavors in similar offshore areas.
How is CNOOC Limited planning to ensure sustainable exploration?
The company aims to harness innovative technologies while adhering to modern environmental standards to promote sustainable energy exploration.
