CNOOC Achieves Significant Ultra-Deepwater Natural Gas Discovery

On September 10, CNOOC Limited announced a significant breakthrough in natural gas exploration with the successful drilling of a well in the ultra-deepwater Liwan 4-1 structure, located in the Pearl River Mouth Basin. This well, which is situated in Baiyun Sag, about 300 kilometers southeast of Shenzhen, marks the first major exploration success in ultra-deepwater carbonate rocks offshore China. The well tested at an impressive absolute open flow rate of 430,000 cubic meters of natural gas per day, highlighting its potential as a substantial natural gas resource.

Drilled to a vertical depth of nearly 3,000 meters, the well was completed at a total depth of approximately 4,400 meters and uncovered a gas pay zone extending 650 meters in the horizontal section. With a water depth of nearly 1,640 meters, this discovery in Baiyun Sag, the largest hydrocarbon-rich sag in the Pearl River Mouth Basin, showcases the promising exploration prospects of ultra-deepwater Globigerinid limestone formations. The well's success also advances China's efforts in natural gas exploration in deepwater regions.

Xu Changgui, Chief Geologist of CNOOC Limited, emphasized the significance of this discovery, stating that previous ultra-deepwater exploration in China was primarily focused on clastic rocks. The success of this well in carbonate rocks is a first for the country, demonstrating the vast potential of these formations and representing a major step forward in exploration understanding and operational techniques. "This breakthrough not only expands the exploration frontier but also opens up new possibilities for future development," Xu remarked.

Moreover, the well's proximity to the existing production facilities of the Liwan 3-1 gas field presents an economic and efficient development opportunity. The existing infrastructure can be leveraged to support the new discovery, allowing for streamlined production and resource management in the deep waters of the Pearl River Mouth Basin.

Overall, this successful drilling marks a pivotal moment for CNOOC Limited, as it advances China's deepwater exploration capabilities and highlights the untapped potential of ultra-deepwater natural gas resources, positioning the company as a leader in offshore natural gas development.

China National Offshore Oil Corporation (CNOOC), China's leading offshore oil and gas producer, was founded as a state-owned enterprise on February 15, 1982, with approval from the State Council. The company has a registered capital of RMB 113.8 billion and operates through five publicly listed subsidiaries. Its primary business activities encompass oil and gas exploration and development, specialized technical services, sales of refined products, fertilizer production, natural gas extraction, power generation, and financial services. Additionally, CNOOC is expanding into new energy sectors, including offshore wind power.