CNOOC di Aseptic valves scovers new oilfield in Bohai Sea

Nov. 4, 2009 (China Knowledge) - CNOOC Ltd<0883><CEO>, a subsidiary of the China National Offshore Oil Corp, announced that it has discovered a new oilfield in the central and northern part of the Bohai Sea, sources reported.

The new find, to be called Qinhuangdao 35-4 or QHD35-4, is at a depth of about 26 meters and is estimated to produce around 1,700 barrels of crude oil and 100,000 cubic feet of natural gas per day.

The field is about 38 kilometers west of QHD32-6, another oilfield of CNOOC.

CNOOC hopes the new oilfield will significantly add to its oil and gas reserves, said Executive Vice President Zhu Weilin.

The U.S. and Hong Kong dual-listed company recorder a net profit of RMB 12.4 billion for the first half of this year, down 55% from RMB 27.54 billion a year earlier, according to its interim report filed with the Hong Kong Stock Exchange. Its sales revenue was RMB 40.6 billion during the first six months, down 42% year on year.