China National Offshore Oil Corporation (CNOOC) has announced a major oil discovery in the deep and ultra-deep waters of the South China Sea.
The newly identified Huizhou 19-6 oilfield holds proven geological reserves exceeding 100 million tons of oil equivalent.
The oilfield located in the eastern South China Sea, around 170 kilometers off Shenzhen’s coast lies at an average water depth of 100 meters.
The discovery well, HZ19-6-3, reached a total depth of 5,415 meters and...