CNOOC makes oil discovery in Liaodong Bay

CNOOC Ltd. (NYSE:CEO;SEHK:00883) reports a discovery at Luda (LD) 21-2 well offshore China.

Offshore staff

HONG KONG –CNOOC Ltd. (NYSE:CEO;SEHK:00883) reports a discovery at Luda (LD) 21-2 well offshore China.

LD 21-2 is in the inverted structure belt of LD 22-27 in south Liaodong Bay. The average water depth is 20 m (66 ft.). The discovery well of LD 21-2-1D is drilled and completed at a depth of 2,831 m (9,288 ft.) and encountered oil pay zones with total thickness of about 170 m (558 ft.), representing the thickest oil layers found in the exploration of Bohai clastic rocks in recent years.

Currently, oil production of the well is tested at around 608 b/d.

5/24/2012

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