Oil Discovered in Bohai, CNNOC Owns 51% of Share

Home>>Business

Last updated at: (Beijing Time) Monday, May 20, 2002

Oil Discovered in Bohai, CNNOC Owns 51% of Share

DISCUSSION

CHINESE

SEND TO FRIEND

A new oil field has been discovered in Liaoning Bay of Bohai by ChevronTexaco Corporation, Petronas Carigali, and China National Offshore Oil Corporation (CNOOC) Limited, according to sources from Beijing Youth Daily on May 17.

As reported, the Evaluating Well LD27-2-3, 2700 meters deep under the 21-meter-deep seabed, has met several oil layers in Minghua, Guangtao and Dongying respectively. After testing, the four discovered oil fields are estimated to produce Oil 33-36API to 4600 barrels a day. According to the contract, CNOOC Limited has the rights of owning shares up to 51 percent in the oil exploration.

Ru Ke, vice president of CNNOC Limited, said that they were encouraged by the discovery, which has again proved the rich oil storage in Bohai, the biggest production base of CNNOC.

ChevronTexaco President also expressed satisfaction over the achievement made by LD27-2. And ChevronTexaco will work with Petronas Carigali and CNNOC on evaluating the new discovery, he added.

By PD Online Staff Huang Ying

Questions?Comments? Click here

More Oil Found in the South China Sea

China's Largest Oil Tanks under Construction

UNDP Starts Research on Chinese Women in WTO ( 2 Messages)

China Is Among Countries with Wide Income Gap ( 130 Messages)

FM Spokesman on Anti-China Items In U.S. Defense Bill ( 113 Messages)

China's Rural Population Expected to be under 25 Percent: Economist ( 15 Messages)

China Launches Two Satellites ( 44 Messages)

China to Launch First Space Solar Telescope in 2005 ( 33 Messages)

Study Shows Chinese Youths' Poor in Creative Ability ( 26 Messages)