10 Feb 2010 06:43

CNOOC discovers new gas deposit in the South China Sea

Shanghai. February 10. INTERFAX-CHINA - China National Offshore Oil Corp. (CNOOC), China's third largest oil and gas producer, announced on Feb. 9 that it has made a new gas discovery in the 29/26 block located in the South China Sea.

According to the announcement, the new Liuhua 29-1 gasfield is the third deepwater gas discovery CNOOC has made in the South China Sea, after the Liwan 3-1 gasfield and the Liuhua 34-2 gasfield.

CNOOC said that the test well of the Liuhua 29-1 gasfield can produce 57 million cubic feet of gas per day at present. Meanwhile, its exploration partner in the South China Sea, Husky Energy Inc., will evaluate the gasfield reserves later this year.

CNOOC expects that the company's first discovery, the Liwan 3-1 gasfield, will start production in 2013.