China Discovers Major Oilfield Off Shenzhen, Enhancing Energy Production Potential
China’s CNOOC reported the discovery of the Huizhou 19-6 oilfield, located 170 km from Shenzhen, producing 413 barrels of oil and 68,000 cubic meters of gas daily. CEO Zhou Xinhuai emphasized the importance of this breakthrough for offshore production growth, while geopolitical tensions in the South China Sea continue to pose challenges for exploration efforts.
The Huizhou 19-6 oilfield, located approximately 170 kilometers from Shenzhen in Guangdong Province, was recently discovered by China, as reported by the Beijing-based Xinhua news agency. Initial test drilling indicates a promising output of 413 barrels of crude oil and 68,000 cubic meters of natural gas per day, according to the China National Offshore Oil Corporation (CNOOC).
Zhou Xinhuai, the CEO of CNOOC, expressed his enthusiasm for the discovery, stating it represents “successive breakthroughs in oil and gas exploration in the eastern waters of the South China Sea.” The firm has achieved the discovery of 100 million-ton oilfields consecutively for two years, a development that he attributes to growth in offshore oil and gas production.
Despite the significant finds, the South China Sea remains predominantly underexplored due to ongoing territorial disputes. The U.S. Energy Information Administration noted that the majority of known resources lie within uncontested areas. China’s claims over the South China Sea are challenged by several neighboring countries, including the Philippines and Vietnam.
CNOOC Chief Geologist, Xu Changgui, characterized the new discovery as a “major breakthrough,” noting its importance as the largest clastic whole oil field in the northern sector of the South China Sea, significantly revising previous geological understandings.
As per U.S. government analysis, China continues to lead global crude oil imports, with a staggering 11.1 million barrels consumed daily last year, affirming its rising significance in the energy sector.
The discovery of the Huizhou 19-6 oilfield marks a significant advancement in China’s pursuit of offshore energy resources, highlighting its potential to enhance domestic production amid ongoing disputes in the South China Sea. CNOOC’s findings underscore the exploration successes in the region and provide a foundation for future growth in oil and gas production, despite the geopolitical challenges presented by neighboring claims.
Original Source: m.economictimes.com
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