SINGAPORE: China's Sinopec Corp has struck a high flow of oil and gas in an offshore exploration well in the Beibu Gulf of the South China Sea, it said on Wednesday (Jul 3).
FILE PHOTO: The logo of China Petroleum & Chemical Corporation, or Sinopec , is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File PhotoSINGAPORE: China's Sinopec Corp has struck a high flow of oil and gas in an offshore exploration well in the Beibu Gulf of the South China Sea , it said on Wednesday .
The well, Hai-3, a rare slanted well with a drilling depth of 4,600m, tested daily output of 738 cubic metres of crude oil and 280,000 cubic metres of natural gas, Sinopec said. The discovery of the shallow-sea well will boost Sinopec's ongoing development of the Weizhou oilfield in the Beibu Gulf that has proven oil reserves exceeding 10 million metric tons , Sinopec said in its press release.
Sinopec usually focuses on onshore oil and gas exploration and production but has in recent years stepped up exploring for hydrocarbon resources offshore, which has long been dominated by domestic peer CNOOC Ltd. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
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