The National Maritime Oil Company (CONOC) has discovered an oil field in the South China Sea and exceeded 100 million tons, Xinhua news agency reported.
The newly discovered oil field in Huizo 19-6 is not in a disputed part of the South China Sea and in China’s private economy, which goes to 200 miles or 370 km on its coast.
The oil field, about 170 kilometers (106 miles) off the coast of Shinzhna, sits at an average of 100 meters at a depth of water, adding that the test drilled the daily production of 413 barrels of crude oil and 68,000 cubic meters of natural gas.
The report says Huizo 19-6 is the first classical oil field in China in deep-deep-deep-deep layers.
These spare reserves are dangerous for oil and gas exploration, given the temperatures and pressures that arise in these depths.
China wants to reduce its commitment to strengthen its energy security, but crude oil imports are expected to reach its peak early next year, as the fuel demand for transportation for the world’s main oil buyer will begin.
(Report by Joe Kash; Editing by Kim Kogil and Sumana Nandi)