CNOOC Announces Offshore Oil and Gas Exploration Breakthrough

Chinese state-held oil and gas giant CNOOC said on Monday it had achieved an exploration breakthrough in medium-to-deep Mesozoic plays in the Bohai Bay offshore China.  CNOOC, which specializes in offshore exploration and production in China and abroad, was exploring a discovery well in the Longkou 7-1 oilfield in eastern Bohai Bay. The well was drilled and completed at a depth of approximately 4,400 meters (14,436 ft), encountering a total of 76 meters (249 ft) of oil and gas pay zones.   The well was tested to produce…