China National Offshore Oil Corporation (CNOOC) has announced a record-breaking cumulative production of nine billion cubic meters (bcm) of natural gas and over 900,000 cubic meters of crude oil from its Deep Sea #1 field. As China’s first independently developed ultra-deep water gas field, Deep Sea #1 began operations in June 2021 and continues to show immense potential.
CNOOC, China’s third-largest national oil company, is currently completing the second phase of development for the field, with production set to increase further. This phase focuses on tapping into the vast gas reserves in the South China Sea, with the company targeting a total of 50 bcm of natural gas in the long term.
In a separate milestone, CNOOC recently drilled a well in the Liwan 4-1 structure of the Pearl River Mouth Basin, marking a major achievement in ultra-deep water exploration. The company reported this as the first significant discovery in carbonate rock formations in China’s offshore ultra-deep waters, further solidifying its position as a leader in the region’s energy sector.
