The Weizhou 10-5 South Oil and Gas Field is poised to contribute to China's energy security with promising daily production rates.
CNOOC Limited announced a landmark achievement in its exploration efforts on July 15, reporting a major breakthrough in the deep plays of the South China Sea. For the first time, the Company has successfully explored metamorphic buried hills in this challenging offshore environment, opening new frontiers for hydrocarbon discovery in China.
The significant find was made at the Weizhou 10-5 South Oil and Gas Field, situated in the Beibu Gulf of the South China Sea. This area features an average water depth of 37 meters, presenting its own set of operational considerations. The exploration well, WZ10-5S-2d, drilled to a total depth of 3,362 meters, encountered an impressive oil and gas pay zone stretching 211 meters. Initial test results from the well are highly promising, indicating a daily production rate of 165,000 cubic feet of natural gas and 400 barrels of crude oil. This success marks a pivotal moment for China's offshore energy sector, specifically in the realm of metamorphic sandstone and slate buried hills.
Xu Changgui, the Chief Geologist of CNOOC Limited, emphasized the strategic importance of this discovery. "In recent years, CNOOC Limited has consistently intensified theoretical innovation and tackled key technology challenges in buried hills and deep plays exploration," he stated. "Breakthroughs have been achieved in the exploration of Paleozoic granite and Proterozoic metamorphic sandstone and slate buried hills within the Beibu Gulf Basin. They demonstrate the vast exploration potential in buried hills formations, drive the secondary exploration process in mature areas, and mark the commencement of large-scale exploration of buried hills in the Beibu Gulf Basin."
Echoing this sentiment, Zhou Xinhuai, the Chief Executive Officer of CNOOC Limited, underscored the broader implications of this achievement. "This represents the first major breakthrough in metamorphic sandstone and slate buried hills exploration offshore China, setting an important example for advancing deep plays and buried hills oil and gas exploration," he said. He further affirmed the company's commitment to future innovation: "In the future, CNOOC Limited will continue to intensify research on key theories and technologies for deep play exploration, to enhance research and development capabilities, advance reserves and production growth, and to ensure stable supply of oil and gas."
This breakthrough is expected to significantly contribute to China's energy security and reduce its reliance on imported hydrocarbons. The South China Sea is a region with considerable, yet underexplored, hydrocarbon potential due to its complex geology and historical exploration challenges.
