The company believes the Kenli 6-1 discovery to be the first large-sized oil field in the Laibei lower uplift. This is in the southern area of the Bohai basin.
During tests, the KL6-1-3 discovery well produced around 1,178 barrels of oil per day.
The well was drilled and completed in water depth of 1,596m. It encountered oil pay zones with a total thickness of around 20m.
CNNOC said the exploration of Kenli 6-1 structure further proves the company’s exploration potential of the Neogene lithologic reservoir in the Laizhou Bay.
Bohai is the company’s main reserve, and crude produced in the region is mostly heavy oil.
This discovery stands with the six Bohai discoveries made in 2018. These are Luda 10-6, Luda 4-3, Luda 6-2 South, Bozhong 13-2, Longkou 19-1 North, and Kenli 5-1.
In the same year, the reserve and daily production volume of the company in Bohai were 1,229.7 million barrels of oil equivalent (boe) and 460,822 boe per day, respectively. This represents over 24.8% of the company’s total reserves and 35.4% of its daily production.
In January this year, CNOOC announced plans to increase its 2020 capital expenditure (capex) from CNY85bn to CNY95bn ($12.34bn to $13.7bn).
In April 2015, it started production at the Kenli 10-1 oilfield in the Bohai Sea.