CNOOC Ltd. said it has discovered a hydrocarbon field estimated to contain over 100 million tons of oil equivalent (about 684 MMboe) in Kaiping South in the deep-water deep-play of the South China Sea.
Kaiping South has an average water depth of about 500 m. The main oil-bearing plays are Paleogene in the Zhuhai, Enping, and Wenchang formations. Oil is light crude. Discovery well KP18-1-1d was drilled and completed at a depth of 3,462 m, which encountered a total of 100.6 m oil and gas pay zones, the company said in a release.
The well was tested to produce an average of about 7,680 b/d oil and 0.52 MMscfd gas. Through continued exploration, proved in-place Kaiping South volume has reached 102 million tons of oil equivalent.
