BG makes China gas discovery
The BG Group reports discovery of gas on block 64/11 offshore China.
READING, UK –The BG Group reports discovery of gas on block 64/11 offshore China. The Lingshui 22-1-1 exploration well encountered gas-bearing sands in Qiongdongnan basin of the South China Sea.
The well is 130 km (81 mi) offshore in 1,338 m (4,390 ft) water depth south of Hainan Island.
BG Group is the operator of block 64/11 with a 100% working interest. In the event that a gas or oil field on the acreage receives development approval, CNOOC has the right to acquire an interest of up to 51% and would contribute to the cost of development.