China’s National Offshore Oil Corporation (CNOOC) has announced that its Bozhong 26-6 oilfield has proven reserves of over 200 million cubic meters. Located in the southern waters of the Bohai Sea, if this figure is correct, it could make the oilfield the biggest metamorphic rock oilfield worldwide.
China’s recently discovered Bozhong 26-6 200 million cubic meters of reserves
Tag: China National Offshore Oil Corporation
Offshore discoveries turn tiny Guyana into oil hotspot
Oct 23 (Reuters) – Chevron (CVX.N) has agreed to buy smaller rival Hess (HES.N) in a $53 billion all-stock deal that will help the oil major secure a foothold in oil-rich Guyana.
The deal makes Chevron a partner with Exxon (XOM.N) in Guyana’s booming oilfields, which are expected to generate 1.2 million barrels of oil per day by 2027.
Hess is part of a consortium, including Exxon Mobil Corp and CNOOC (0883.HK), that operates in Guyana and has made more than 30 discoveries in the country’s offshore waters since 2015. Exxon had a 45% stake in the consortium with Hess owning 30% and CNOOC having a 25% stake.
FACTBOX Offshore discoveries turn tiny Guyana into oil hotspot
Previously:
US seeks to ‘militarize’ Venezuela-Guyana disputed territory
The Venezuelan Foreign Minister says that the parliament recently passed a referendum protecting the sovereign territory from US encroachment, adding that the US is again trying to interfere in the 200-year-old dispute of Essequibo.
US seeks to ‘militarize’ Venezuela-Guyana disputed territory
Related:
Exxon Is The Biggest Winner In Guyana’s Epic Oil Boom
China and Venezuela to Establish ‘All-Weather Strategic Partnership’, Sign 31 Cooperation Agreements
The Venezuelan leader added that his country would continue to back China’s Belt and Road Initiative as well as the internationalization of the yuan, and is also willing to cooperate with Beijing in multilateral forums such as the BRICS group and the United Nations (UN).
De-Dollarization Kicks Into High Gear
The US dollar is essential to US global power projection. But in 2022, the dollar share of reserve currencies slid 10 times faster than the average in the past two decades.
De-Dollarization Kicks Into High Gear
Related:
China Heralds Another Major Oil Discovery
China’s state-run China Petrochemical Group, Sinopec, says it has discovered a massive oilfield in the Tarim Basin, containing 1.7 billion tons of oil reserves.
The discovery is the result of exploration in the Shunbei oil and gas field, said to be one of the deepest commercial fields in the world, in the country’s Xinjiang region.
China Heralds Another Major Oil Discovery
Related:
Chinese Oil Giants Sinopec And PetroChina To Delist From NYSE
The Energy Industry in Xinjiang, China: Potential, Problems, and Solutions
Vast oil deposits discovered in Xinjiang
I’m sure Halliburton would love to get their hands on that oil! Oh wait, that was Iraq!
China announces MASSIVE oil & gas discovery in Bohai Sea
RT | February 24, 2021
China National Offshore Oil Corporation (CNOOC) revealed this week that its newly discovered oil and gas field in the Bohai Sea contains proven geological reserves of 100 million metric tons of oil and gas equivalent. That makes Bozhong 13-2 one of the biggest crude oil production bases in the country, according to the company. The new field is located 140 kilometers off the coast of Tianjin at an average water depth of 23.2 meters, according to Zhou Xinhuai, general manager of the oil exploration department at CNOOC. The Bozhong 13-2-2 well, where the reserve was discovered, was drilled and completed at a depth of 5,223 meters, and encountered oil pay zones with a total thickness of approximately 346 meters. The well was tested to produce an average of approximately 1,980 barrels of crude oil per day. The company expects daily crude oil and natural gas generation from the well to reach 300 tons and 150,000 cubic meters, Zhou was cited as saying by China Daily. The Bohai oilfield is likely to start production in 2023 and achieve a peak output of 1.2 million tons of oil equivalent. According to industry experts, the Bohai Sea natural gas and oil discoveries will boost CNOOC’s annual output to above 80 million tons of oil equivalent by 2025. The company said in 2019 that its Bohai discoveries contain 100 billion cubic meters of proven geological reserves of natural gas. It expects the increased capacity from the new finds to help meet the surging demand for natural gas in northern and eastern China and reduce the country’s reliance on costly imports. China’s natural gas production reached 188.8 billion cubic meters in 2020, up 9.8 percent on a yearly basis, according to data by the National Bureau of Statistics. Natural gas imports rose to 102 million cubic meters, up by 5.3 percent on a yearly basis.
China announces MASSIVE oil & gas discovery in Bohai Sea
Ms. Cat’s Chronicles 