China’s CNOOC Ltd., the listed branch of China National Offshore Oil Corp., said on Feb. 22 it had made a large-sized oil and gas discovery at Bozhong 13-2 in the Bohai Bay off north China.
Located in the southwestern ring of Bozhong Sag, the discovery well was tested to produce an average of about 1,980 barrels of crude oil and 5.25 million cubic feet of natural gas per day.
CNOOC, the country’s top offshore oil and gas producer, had vowed to expedite large discoveries at offshore blocks in Bohai Bay and South China Sea and to tap unconventional resources.
Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, took aim at U.S. shale producers following the OPEC+ meeting on March 4, saying: “‘Drill, baby, drill’ is gone forever.”
Oil rigs rose one to 310 this week, their highest since May, while gas rigs were unchanged at 92.
Wolfcamp Shale producers completed by Chevron and EOG Resources in the Permian Basin plus details on exploratory wells at LLOG Exploration’s Spruance prospect in the Gulf of Mexico top this week’s oil and gas drilling activity highlights from around the world.