CNOOC Limited announces a significant discovery Kenli 6-1 in Bohai Bay, which is expected to be the first large-sized oil filed in Laibei lower uplift.

The Kenli 6-1 structure is located in Laibei lower uplift in southern Bohai basin with an average water depth of about 19.2 meters. The discovery well KL6-1-3 was drilled and completed at a depth of 1,596 meters, and encountered oil pay zones with a total thickness of approximately 20 meters. The well was tested to produce around 1,178 barrels of oil per day.

The successful exploration of Kenli 6-1 demonstrated the Company’s remarkable breakthrough in the exploration area of Laibei lower uplift, and further proved the huge exploration potential of the Neogene lithologic reservoir in the Laizhou Bay.

Bohai

Bohai is the most important crude oil producing area for the Company. The crude oil produced in this region is mainly heavy oil. The operational area in Bohai is mainly shallow water with a depth of 10 to 30 meters. As of the end of 2018, the reserve and daily production volume in Bohai were 1,229.7 million BOE and 460,822 BOE/day, respectively, representing approximately 24.8% of the Company’s total reserves and 35.4% of its daily production.

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