Market Chatter: CNOOC Discovers 100-Million-Tonne Oilfield in South China Sea

MT Newswires Live2025-04-02

CNOOC (SHA:600938, HKG:0883) discovered a massive oilfield in the eastern South China Sea, Xinhua News Agency reported Monday.

Huizhou 19-6, located 170 kilometers from Shenzhen at an average depth of 100 meters, has proven reserves of more than 100 million tonnes, according to the report.

CNOOC said Huizhou 19-6 is China's first large-scale integrated clastic oilfield in deep to ultra-deep layers, Xinhua News wrote. Test drilling produced 413 barrels of crude oil and 68,000 cubic meters of gas daily.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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