The China National Offshore Oil Corporation (CNOOC) has announced the discovery of a significant oilfield in the South China Sea, with proven reserves surpassing 100 million tonnes.
Named the Huizhou 19-6 oilfield, the discovery is located within China’s Exclusive Economic Zone (EEZ), which extends 200 nautical miles (370 kilometers) from the country’s coastline. Importantly, the site lies outside any disputed regions of the South China Sea.
Situated approximately 170 kilometers (106 miles) offshore from Shenzhen, the oilfield rests at an average depth of 100 meters. Early test drilling has shown promising results, with a daily output of 413 barrels of crude oil and 68,000 cubic meters of natural gas.
Huizhou 19-6 is described as China’s first large-scale integrated clastic oilfield in deep to ultra-deep layers, a challenging environment for oil and gas exploration due to the extreme temperatures and pressures at these depths.
This discovery comes as China continues its efforts to reduce dependence on imported energy sources. While China remains the world’s largest oil importer, the country’s crude oil imports are expected to peak by next year, with declining demand for transport fuel marking a shift in the energy landscape.
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