China National Offshore Oil Corp (CNOOC) has reported proven oil and gas geological reserves of 50m tonnes oil equivalent at its Huizhou 26-6 field.
The field, which was discovered last year, is in the Zhu1 Depression of the Pearl River Mouth Basin in the Eastern South China Sea. It is expected to become the first mid-to-large sized condensate oil and gas field in the shallow water area of the Pearl River Mouth Basin.
The reserve has been certified by the Ministry of Natural Resources and CNOOC says it expects to produce more than 500 cu m of oil and 600,000 cu m of gas each day.
