CNOOC Limited announced that the Company has made a major oilfield discovery of Qinhuangdao 27-3 in Bohai Sea, which adds over a hundred million tons of oil equivalent proved in-place volume. Qinhuangdao 27-3 Oilfield is located in the north-central waters of the Bohai Sea, with an average water depth of approximately 25 meters. The main oil-bearing play is the Minghuazhen Formation of Neogene, and the oil property is medium-heavy crude.

The discovery well QHD27-3-3 was drilled and completed at a depth of 1,570 meters, which encountered a total of 48.9 meters oil pay zones. The field has been tested to produce approximately 742 barrels of crude oil per day from a single well. Through continued exploration, the proved in-place volume of Qinhuangdao 27-3 Oilfield has reached 104 million tons of oil equivalent.