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CNOOC Limited has achieved a major exploration breakthrough in an ultra-shallow gas play in the ultra-deep water South China Sea. Lingshui 36-1 gas field is located in the western South China Sea, with an average water depth of approx. 1,500 meters. The field has been tested to produce over 10 million cubic meters per day of open flow natural gas.
The new pump technology will support and enable the gas stream, rich in CO2, to be separated and pumped immediately back into the reservoir at the seabed, 2000 m below the water line, allowing FPSOs to improve their efficiency and reduce their carbon footprint, further enhancing production.
The Hong Kong stock market has climbed higher in two straight sessions, collecting more than 360 points or 2 percent along the way. The Hang Seng Index now sits just beneath the 18,450-point plateau and it may see additional support on Wednesday.
The Hong Kong stock market on Monday halted the four-day losing streak in which it had slumped more than 750 points or 4.1 percent. The Hang Seng Index now sits just above the 18,400-point plateau and it may see additional support on Tuesday.
The Hong Kong stock market has finished lower in four straight sessions, sinking more than 750 points or 4.1 percent along the way. The Hang Seng Index now sits just above the 18,075-point plateau although it's likely to halt its slide on Monday.