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 Bohai Bay with the completion of a wildcat.

The discovery well Bozhong (BZ) 28-2S-1 is located on Structure BZ28-2S in the Yellow River Mouth Sag of central southern Bohai Bay. The well hit its target depth of 2,125 meters, with a water depth of about 22 meters.

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 7.94mm and 12.7mm chokes, respectively.

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), China's largest offshore oil and gas producer.

Source: Xinhua