In a statement the company said, “Wells BZ 34-1-6 and BZ 34-1-7 were drilled in 21 metres of water depth, and encountered about 30 metres of oil and gas pay. The two wells have confirmed hydrocarbons in Blocks 4 and 5 and a big reserves upside on the BZ 34-1.”
“The reserves upside will lift the estimated oil in place in the BZ 34-1 structure to 300-mil bbl of oil equivalent, from a controlled 190-mil boe earlier,” added the company.
According to CNOOC Ltd senior vice president Zhang Guohua, “The appraisal results of these two wells were encouraging and confirmed that all five fault blocks on BZ 34-1 bear hydrocarbons, the reserves there are more than what we expected previously.”
CNOOC Ltd had previously spudded wells BZ3 4-1-2 and BZ 34-1-5. The former struck two formations with positive hydrocarbon flow of 700 b/d with an API of 33. The latter tested 400 b/d of crude flow also with an API of 33 and 5.3-mil cu ft of gas flow a day.
