CNOOC Ltd. has made a mid-sized new discovery in Lufeng14-4 in the eastern South China Sea, the company said in a news release.
The Lufeng14-4 structure is located in Lufeng Sag in the Pearl River Mouth Basin of the South China Sea with an average water depth of 145 m (476 ft). The discovery well Lufeng14-4-1 was drilled and completed at a depth of 4,098 m (13,445 ft) and encountered oil pay zones with a total thickness of about 150 m (492 ft). The oil production of the well tested around 1,320 bbl/d.
The successful exploration of Lufeng14-4 demonstrated the company's breakthrough in the exploration area of the Paleogene System and further proved the huge exploration potential of the Paleogene System in the Pearl River Mouth Basin.
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