CNOOC Hits Black Gold in Eastern Bohai Bay

CNOOC made a discovery in the Penglai 9-1 block in waters measuring 95 feet (29 meters) in the eastern Bohai Bay. Drilled to a total depth of 4,938 feet (1,505 meters), the discovery well PL9-1-2 struck oil pay zones with a total thickness of 253 feet (77 meters) and fractured a zone of buried hill with total thickness of 518 feet (158 meters). A drill stem test was performed, and the well flowed at an average rate of 540 bopd. CNOOC operates the block.