New oil discovery for CNOOC in Bohai

Source: CNOOC Limited

CNOOC Limited (the “Company", NYSE: CEO, SEHK: 00883) today announced that the Company has successfully made a new discovery Luda(LD)21-2 in Bohai.

LD 21-2 is located in the inverted structure belt of LD 22-27 in south Liaodong Bay, with its south part adjacent to LD 27-2 oilfield. The average water depth is 20 meters. The discovery well of LD 21-2-1D is drilled and completed at a depth of 2,831 meters and encountered oil pay zones with total thickness of about 170 meters, representing the thickest oil layers found in the exploration of Bohai clastic rocks in recent years. Currently, oil production of the well is tested at around 608 barrels per day.

Mr. Zhu Weilin, Executive Vice President of the Company and General Manager of Exploration Department commented, “The discovery of LD21-2 not only has fairly good economics in exploration and development, but also further confirms high quality oil and gas accumulation of the inverted structure belt of LD 22-27 as well as good prospects for future exploration.”


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