China’s Sinopec Achieves Significant Oil and Gas Flow at South China Sea Well, According to Reuters

SINGAPORE (Reuters) – China’s Sinopec Corp has reported a significant discovery of oil and gas from an offshore exploration well in the Beibu Gulf, South China Sea, as announced on Wednesday.

The well, named Hai-3, is an unconventional slanted well, reaching a drilling depth of 4,600 meters (approximately 2.86 miles). It achieved a daily output of 738 cubic meters of oil and 280,000 cubic meters of gas, according to Sinopec’s statement.

This discovery is expected to enhance Sinopec’s ongoing development of the Weizhou oilfield, which is situated in the Beibu Gulf and boasts proven oil reserves of over 10 million metric tons (equivalent to 73 million barrels).

While Sinopec has traditionally concentrated on onshore oil and gas activities, it has recently increased its focus on offshore exploration, an area that has historically been dominated by its domestic competitor, CNOOC Ltd.