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| New Offshore Oil Reserves Found in Bohai Bay |
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China National Offshore Oil Company Limited (CNOOC Ltd) announced on Tuesday that it has made a new independent discovery of oil deposits in East China's The discovery well Bozhong (BZ) 28-2S-1 is located on StructureBZ28-2S in the Yellow River Mouth Sag of central southern The drilling activities commenced in February 2006. The well penetrated oil layers with a total thickness of 85 meters and gas sections eight meters thick. Two drill stem tests were conducted over two intervals with a combined flow rate of about 1,900 barrels of oil and two million cubic feet of gas per day via Further appraisal work will be conducted to evaluate the commercial value of the discovery, said CNOOC Ltd. According to preliminary estimates, BZ28-2S is one of the largest discoveries among those made by CNOOC Ltd. in Bohai Bay in recent years, said Zhu Weilin, vice president of the CNOOC Ltd. and general manager of the exploration department. Incorporated in Hong Kong in August 1999, CNOOC Limited is a 70.64 percent-held subsidiary of China National Offshore Oil Corporation (CNOOC), (Xinhua News Agency March 29, 2006)
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