Published By : 25 Aug 2015 | Published By : QYRESEARCH
China National Offshore Oil Corporation (CNOOC), the largest producer of offshore gas and oil in China, announced on Monday that it has wrapped up drilling the first high pressure, high temperature deepwater exploration well in the country.
The Lingshui 25 1S 1 deepwater well has been drilled by China National Offshore Oil Corporation 981 and is the foremost deepwater drilling rig in China, who is the second largest consumer of oil in the world. The well is drilled at a depth of 1 kilometer below the sea level, 140 kilometers south of the Hainan island, and is at a temperature of more than 150 degrees Celsius, according to a statement issued by the company.
Xie Yuhong, manager at China National Offshore Oil Corporation said that the deepwater well will prove to be a solution for the various issues the company has faced with the exploration of oil and gas in the South China Sea.
Oil and gas exploration in the South China Sea has long since been deterred by factors such as high temperatures, deep waters, and increased pressure. Incidentally, over half of the oil and gas resources in the South China Sea are present in similar environments and conditions.
It was in August last year that China National Offshore Oil Corporation reported its discovery of the first deepwater gasfield below the South China Sea. This gasfield, according to information revealed by China National Offshore Oil Corporation, produces 56.5 million cubic feet of natural gas each day. This is equal to an estimated 9,400 barrels of liquid oil each day.
In other news, another Chinese oil rig will carry on with its drilling activities not far from the coast of Vietnam. This rig has been in the middle of a political standoff between Vietnam and China since last year.