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Will CNOOC announce a second major gas field discovery in the South China Sea by December 31, 2024?
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Resolution / Starting Odds
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Official announcements from China National Offshore Oil Corporation (CNOOC) or Chinese government sources
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China Discovers Lingshui 36-1 Gas Field with 100 Billion Cubic Meters
Aug 7, 2024, 02:39 PM
China has announced the discovery of the world's first ultra-deepwater and ultra-shallow gas field, Lingshui 36-1, located in the South China Sea near Hainan Province. The China National Offshore Oil Corporation (CNOOC) confirmed that the gas field's original gas in place (OGIP) is estimated to exceed 100 billion cubic meters. The average water depth of the gas field is approximately 1,500 meters. This significant discovery has been approved by national authorities and is expected to advance China's energy sector.
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New offshore oilfield in Bohai Bay • 25%
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Expansion of Suizhong 36-1 • 25%
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Sinopec • 25%
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