China announced that it has discovered a 100 million ton (t) oil field in the South China Sea, where it is in a territorial dispute with Southeast Asian countries.
State media Xinhua News Agency reported on the 31st that China National Offshore Oil Corporation (CNOOC) has discovered a 100 million ton oil field in the exploration area of 'Huzhou 19-6' in the eastern South China Sea. Xinhua described it as "China's first large-scale offshore deep and ultra-deep clastic rock oil field discovery."
According to reports, the 'Huzhou 19-6' oil field is located about 170 kilometers from Shenzhen in southern Guangdong Province, in the Zhujiang Estuary Basin, with an average water depth of 100 meters. The measurements indicate that the oil field could produce 413 barrels of crude oil and 68,000 cubic meters of natural gas per day, with resources estimated at over 100 million tons.
According to the Chinese authorities, 'deep' refers to deposits deeper than 3,500 meters, and 'ultra-deep' refers to those deeper than 4,500 meters.
Peng Guanglong, a geologist at CNOOC's Shenzhen branch East South China Sea Oil Research Institute, noted, "Recently, 60% of the world's new oil and gas deposits have come from deep strata," adding that "(deep) areas are rich in resources and less explored, making them a vital successor region for future oil and natural gas growth."
Xinhua reported that CNOOC has achieved deep exploration results during the 14th five-year plan period, which is set to conclude this year, including the Kaipingnan oil field, the Bozhong 26-6 oil field, and the Baodao 21-1 gas field, and has discovered oil fields exceeding 100 million tons for the second consecutive year.