China Unveils Significant Oilfield Discovery Near Shenzhen

Image courtesy ofChina National Offshore Oil Corporation

China’s National Offshore Oil Corporation (CNOOC) announced today the discovery of a significant oilfield in the eastern South China Sea, boasting proven reserves surpassing 100 million tons.

Located approximately 170 kilometers (100 miles) from Shenzhen in Guangdong Province, the Huizhou 19-6 oilfield was reported by Beijing’s Xinhua news agency.

According to CNOOC, test drilling at the site has demonstrated a daily output of 413 barrels of crude oil and 68,000 cubic meters of natural gas.

Zhou Xinhuai, CEO of the state-owned energy company, celebrated the find as part of “consecutive advancements in oil and gas exploration within the eastern South China Sea waters.”

Zhou Xinhuai further noted that CNOOC “has identified oilfields with reserves exceeding 100 million tons for two years in a row, establishing a vital new hub for the sustained expansion of offshore oil and gas production.”

The South China Sea remains largely underexplored due to territorial disputes, though the majority of known oil and gas deposits lie within undisputed regions.

Xu Changgui, CNOOC’s Chief Geologist, described the find as a “significant milestone.” He explained, “This discovery marks the largest clastic whole oilfield in the northern South China Sea by geological reserves, challenging conventional theoretical frameworks.”

China continues to lead globally as the largest importer of crude oil, with daily imports reaching 11.1 million barrels last year.