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China's CNOOC Ltd makes new Bohai Bay discovery

HONG KONG, Aug 12 (Reuters) - Chinese offshore oil driller CNOOC Ltd said on Tuesday it had made a new oil and gas discovery with a wildcat well in the Bohai Bay in northern China.

The BZ29-5-1 well, drilled to a total depth of 1,885 metres (6,184 ft), with a water depth of 21 metres, was tested to flow at about 1,500 barrels of oil and 220,000 cubic feet of gas per day, CNOOC said in a statement.

The firm said it had made six discoveries in the Yellow River Mouth Sag area of Bohai Bay since 2006.

The offshore specialist aims to build Bohai field into China’s second-largest crude producer in a few years’ time, overtaking the ageing onshore field Shengli, company executives said last October.

By October 2007, CNOOC was pumping about 274,000 barrels per day crude at Bohai Sea from 29 fields. (Reporting by Tom Miles; Editing by Dominic Whiting)

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