China reveals massive oil & gas discovery in Bohai Sea
The Bohai Sea area is just over 100km from the Beijing-Tianjin-Hebei region.
The flow has been discovered in CNOOC’s Bozhong 19-6 gas field, China Central Televison reported. It is the largest oil and gas discovery in the Bohai Bay Basin in the past 50 years, and could be used by millions of city dwellers for hundreds of years, reports the China Daily.Also on rt.com Made-in-China diamonds ready to rock global market
According to Liu Baosheng, a project manager with the CNOOC, 11 wells have found oil and gas in the Bohai Sea, and a 12th well has reached 4,700 meters below the seabed.
Although the Bohai Oilfield is the second-largest crude oil production base in China, its discovered reserves in the past 50 years were mainly crude oil. Until now, few natural gas discoveries have been made due to the complex’s geological structure.
After extraction, the natural gas could be directly transported to the market through existing pipelines.
For more stories on economy & finance visit RT's business section