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A large deep-water deep-stratum gas field with proven reserves exceeding 50 billion cubic meters, the first of its kind in China, was discovered in the water southeast of Hainan Island, according to the China National Offshore Oil Corp (CNOOC) on Thursday.
CNOOC Limited has announced that the proved gas in-place of Baodao 21-1 gas field has successfully passed the Chinese governmental review and filing. Proven in-place natural gas and condensate oil has been certified at over 50 billion cubic metres and 3 million cubic metres respectively.
China discovered its first large deep-water deep-stratum gas field with proven reserves exceeding 50 billion cubic meters (bcm) in the sea southeast of Hainan Province.