CNOOC announces new oil and gas discovery in Bohai Bay

China National Offshore Oil Co Ltd announced that it had discovered oil and natural gas in its wildcat well, drilled in the Yellow River Mouth Sag of east China's Bohai Bay.

China National Offshore Oil Co Ltd said test flows were about 1,500 barrels of oil and 220,000 cubic feet of gas per day.

Mr Zhu Weilin executive vice president of CNOOC Ltd said the discovery further demonstrated the exploration potential of the Yellow River Mouth Sag. Since 2006, the company had made six discoveries in the same area.

CNOOC Ltd produced 171 million barrels of oil equivalent last year up by 2.6% YoY from a year earlier.

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