China National Offshore Petroleum Corporation (CNOC) announced the discovery of an oil and gas field in the South China Sea with proven reserves of 50 million tonnes of oil equivalent.
The field, named Huizhou 26-6, is located in the Zhujiangkou Depression with an average depth of 113 meters below the surface of the water. An exploration well determined that the thickness of the oil and gas deposits is 422.2 meters, according to KNOCK.
This find will effectively increase the supply of clean energy resources in South China, the company said, promising to continue exploration to discover even greater oil and gas resources.
Established in 1982, KNONK is a leading manufacturer of offshore oil and gas in China. At the moment, the corporation's activities cover more than 40 countries and regions of the world.
Earlier it was reported that during the period from 27 to 30 January in the waters of the South China Sea will be held exercises by the naval forces (Navy) of China. The United States followed the announcement by imposing visa restrictions on state-owned representatives, Chinese Communist Party officials, and the military who, according to Washington, are responsible for the militarization of the South China Sea.
For decades, the PRC has been arguing with several countries in the region over the territorial affiliation of a number of islands in the South China Sea, on the shelf of which significant reserves of hydrocarbons have been discovered. We are talking primarily about the Xisha archipelago (Paracel Islands), the Nansha and Huangyan islands (Scarborough reef). Vietnam, Brunei, Malaysia and the Philippines are involved in the dispute to one degree or another. Since the end of 2013, China has been carrying out large-scale work on the creation of artificial islands, as well as the expansion and development of these territories.