Oil Project in South China Sea

Located in South China Sea surrounding with several oil fields with production. Contract area is covering 67.7 covered by 3D seismic with water depth 95m. 5 wells were drilled in which 3 wells acquired discovery.

Main pay zone is the marine sandstone with reservoir depth of 1300-2500m, average porosity of 28.1%, permeability of 250-6000mD.

Reserve and Production
One well tested oil production of 4086bbl/d and one oil field was discovered with proved economical recoverable reserve of 1.84mm tons (12.41 mm barrels). Peak oil production could reach 14000 bopd (annual production 775 thousand tons). It was planned to put into production in 2020-2021.

The trap in the west with a prospective resource of 28.68 mmbbl, which is similar with existing discovery, is promising for further drilling and development. Meanwhile, several reservoirs have potential to be produced.

This is the potential opportunity for oil and gas asset acquisition or investment known by UNIWE, but the accuracy or completeness of relative information has not been verified by us. UNIWE, its affiliated companies, its staffs, are not responsible for the result of any use of relative information and has no obligation to update the relative information.