Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » China’s CNOOC makes 100m ton oilfield discovery in South China Sea

    China’s CNOOC makes 100m ton oilfield discovery in South China Sea

    March 8, 2024
    Share
    Facebook Twitter LinkedIn WhatsApp

    Beijing — Chinese state-owned oil and gas giant CNOOC Ltd (0883.HK), opens new tab has discovered a new reserve in the South China Sea containing over 100 million tons of oil equivalent proved in-place, the company said in a statement on Friday.

    The reserve is located at CNOOC’s deepwater Kaiping South oilfield in the Pearl River Delta near Guangdong province, and contains light crude, the statement said.

    CNOOC has invested heavily in developing China’s offshore oil and gas reserves as part of a broader push to offset declining output from aging onshore fields.

    The company lifted its 2024 production target by about 8% to a record 700 million to 720 million barrels of oil equivalent. Domestic production, much of this offshore reserve in eastern China’s Bohai Sea and the South China Sea.

    *Andrew Hayley; editing: Cynthia Osterman – Reuters

    Related News

    AI to bolster oil recovery as Africa maximizes production at ageing fields

    OPEC head says oil demand will keep growing

    Oil up 1% at 7-week high on hopes of positive US-China trade talks

    E-book
    Resilience Exhibition

    Latest News

    AI to bolster oil recovery as Africa maximizes production at ageing fields

    June 11, 2025

    ADNOC Gas takes FID and awards $5b contracts for RGD project

    June 11, 2025

    Amakpe Refinery Chairman sues financial firm, denies $1.46m debt claim

    June 10, 2025

    Recovered funds boost student loans, credit access for civil servants – EFCC

    June 10, 2025

    Nigeria commits $50m to Wholesale Impact Investment Fund

    June 10, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.