Page 10 - AsianOil Week 08 2021
P. 10
AsianOil EAST ASIA AsianOil
CNOOC Ltd makes Bohai Bay discovery
PROJECTS & STATE-RUN Chinese offshore developer development wells, comprising seven produc-
COMPANIES CNOOC Ltd announced on February 22 that it tion wells and a water source well.
had made a significant shallow-water oil and gas Commenting on the company’s most
discovery in the Bohai Bay. recent success in Bohai Bay, CNOOC Ltd
The discovery in the Bozhong 13-2 structure, exploration chief Zhou Xinhuai said: “After
which CNOOC Ltd described as “large-sized” obtaining Bozhong 19-6 large-sized conden-
without providing a resource estimate, is located sate gas field, the company has made signif-
in the bay’s south-western Ring of Bozhong Sag, icant breakthrough in the exploration of
in around 23 metres of water. another type of buried hill in Bohai, which not
CNOOC Ltd, the listed arm of state-owned only has important promotion value, but also
China National Offshore Oil Corp. (CNOOC), demonstrates promising exploration prospect
said the BZ13-2-2 discovery well was drilled and in Bohai.”
completed at a depth of 5,223 metres. The well, CNOOC Ltd aims to boost production by
which encountered oil pay zones with a total 3-5% this year to 545-555mn barrels of oil equiv-
thickness of around 346 metres, produced an alent (boe) as it prepares to start up several new
average of 1,980 barrels per day (bpd) of crude fields both at home and abroad.
oil and 5.25mn cubic feet (149,000 cubic metres) The company said in a February 4 filing to
per day of gas during testing. the Hong Kong Stock Exchange (HKSE) that
The Bozhong 13-2 success follows the start it intended to spend CNY90-100bn ($13.94-
of production at the Bozhong 19-6 condensate 15.49bn) in order to meet its upstream target.
gas field pilot area development in October 2020. Around 68% of production is anticipated to
CNOOC Ltd said at the time that a new well- come from domestic fields, with CNOOC Ltd
head platform had been built and tied back to highlighting projects such as the Lingshui 17-2
existing processing facilities at the Bozhong 13-1 gas field, Lufeng oilfield development and Cao-
oilfield. It noted that it intended to drill eight feidian 6-4 oilfield.
Sinopec wins Kuwait workover job
PROJECTS & KUWAIT has continued to apportion oilfield The contracts are believed to have been
COMPANIES services jobs with a subsidiary of China’s Sino- signed for a period of five years, though their
pec, winning a contract to supply 10 drilling rigs total value is around a third more than was antic-
to state-owned Kuwait Oil Co. (KOC). ipated by company sources, who first disclosed
Sinopec Oilfield Service Corp. announced the tender when speaking to the Arabic language
over the weekend that it had agreed a $360mn daily Al-Anba in November.
workover rig contract for a five-year period, with While no details have officially been provided
the contract including an option to be extended by KOC, the company launched a tender in
by a year for an additional cost of $40mn. August for the acquisition of 24 HP750, HP550
Sinopec said that the deal consolidates the and HP1000 drilling rigs.
firm’s position as the largest onshore drilling The acquisition is part of KOC’s efforts to
contractor in the Middle East. Indeed, the Chi- expand E&P activities in line with its upstream
nese firm featured in a recent award by KOC and strategy for 2040 and developing newly discov-
has been present in Kuwait since 2009. ered reservoirs. A company source was quoted
In early February KOC handed out 350mn by Al-Anba as saying that KOC intends to “drill
dinar ($1.15bn) worth of deals for the lease of 31 around 400 new crude oil wells” once the new
drilling towers following a tender that had been towers are delivered. The new units will take the
postponed during Q3 2019. total in the country to 150, comprised of 80 for
The largest contract was signed with China drilling and 70 for well repair.
National Petroleum Corp. (CNPC), which will In January, Kuwaiti Oil Minister, and now
supply and install 10 of the units. Meanwhile, acting oil minister following the resignation of
local companies Kuwait Drilling Co. and Bur- the Cabinet, Mohammed al-Fares announced
gan Drilling Co. will each supply four rigs, while that KOC had discovered two new oilfield fields
the remaining units will be provided by seven as well as an extension of the northern part of the
foreign firms, including Oman’s MB Holding, country’s key oil asset – Great Burgan.
UK-based Mariott Drilling and Egyptian com- The Homah oilfield was discovered in
panies, believed to include SinoTharwa Drilling north-western Kuwait covering an area of more
Co., a joint venture between Tharwa Petroleum than 70 square km. The field flowed at an initial
and Sinopec. rate of 1,452 barrels per day (bpd) of light oil.
P10 www. NEWSBASE .com Week 08 25•February•2021
