Beijing: The China National Offshore Oil Corporation (CNOOC) has discovered a major oilfield in the South China Sea with proven reserves exceeding 100 million tonnes, according to a report by the state-run Xinhua news agency on Monday.
The newly identified Huizhou 19-6 oilfield is situated within China’s Exclusive Economic Zone (EEZ), which extends 200 nautical miles (370 km) from its coast. It does not lie in a contested area of the South China Sea, reducing the potential for territorial disputes.
Located approximately 170 km (106 miles) off the coast of Shenzhen, the oilfield sits at an average water depth of 100 meters. Test drilling has so far yielded a daily output of 413 barrels of crude oil and 68,000 cubic meters of natural gas, Xinhua reported.
Huizhou 19-6 represents China’s first large-scale integrated clastic oilfield in deep to ultra-deep layers, a development that underscores the country’s advancing capabilities in offshore energy extraction. The discovery is particularly significant given the technical challenges associated with extracting resources from such depths, where extreme temperatures and high pressures pose formidable obstacles.
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China has been actively working to enhance its energy security by reducing reliance on imports. However, industry analysts project that the country’s crude oil imports could peak as early as next year, as domestic demand for transport fuels starts to decline in the world’s largest oil-importing nation.
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