China National Offshore Oil Corporation (CNOOC) has discovered a significant oilfield in the South China Sea. According to reports, the proven reserves exceed 100 million tonnes. This marks another step in China’s ongoing efforts to strengthen its energy sector.
Location and Key Findings
The Huizhou 19-6 oilfield lies within China’s Exclusive Economic Zone, ensuring no territorial disputes. Located about 170 km from Shenzhen’s coast in Guangdong Province, the site sits at an average water depth of 100 meters. Moreover, test drilling has already produced 413 barrels of crude oil and 68,000 cubic meters of natural gas per day.
Challenges in Deep-Sea Exploration
However, extracting oil and gas from deep-sea reservoirs is highly challenging. CNOOC faces difficulties due to extreme temperatures, high pressure, and complex geological conditions. Notably, Huizhou 19-6 is China’s first large-scale clastic oilfield in deep-sea strata, making it a breakthrough in offshore exploration.
China’s Energy Security Strategy
Meanwhile, China continues to reduce its dependence on oil imports to enhance energy security. Experts predict that crude oil imports may peak as early as next year since transportation fuel demand is expected to decline.
Ongoing Success in Oil Exploration
Furthermore, CNOOC CEO Zhou Xinhuai highlighted China’s steady progress in oil exploration. Over the past two years, the company has identified multiple oilfields, each exceeding 100 million tonnes in reserves. This discovery reinforces China’s commitment to energy independence and long-term resource management.