China’s National Offshore Oil Corporation (CNOOC) announced Monday the discovery of a major oilfield in the eastern South China Sea, with proven reserves exceeding 100 million tonnes.
The Huizhou 19-6 oilfield, located about 170 kilometers (100 miles) from Shenzhen in Guangdong Province, was found to produce 413 barrels of crude oil and 68,000 cubic meters of natural gas daily.
CNOOC CEO Zhou Xinhuai celebrated the discovery as part of a series of breakthroughs in oil and gas exploration in the region, highlighting the company’s achievement of discovering 100-million-ton oilfields for two consecutive years, creating a new growth source for offshore production.
The U.S. Energy Information Administration notes the South China Sea remains underexplored due to territorial disputes, although most oil and gas discoveries are in uncontested areas. Despite competing claims from the Philippines, Malaysia, Vietnam, Indonesia, and Brunei, China asserts almost full ownership of the South China Sea.
CNOOC’s Chief Geologist, Xu Changgui, called the discovery a “major breakthrough,” noting it defied traditional geological understanding by revealing the largest clastic oil field in the northern South China Sea.
China, the world’s largest crude oil importer, received 11.1 million barrels per day last year, according to U.S. government data.
AFP
