CNOOC Ltd, China’s top offshore crude oil and natural gas producer, has announced the discovery of a major new oilfield in the Bohai Sea.  The Qinhuangdao 29-6 discovery in the shallow Neogene formations of the Bohai Sea is yet another oilfield estimated to hold more than 100 million tons of crude, or about 730 million barrels, and discovered by CNOOC recently, the company said.   Through continued exploration, the proved in-place volume of Qinhuangdao 29-6 Oilfield has exceeded 100 million tons of oil equivalent.  The oil property of the major new discovery is medium-heavy crude, the Chinese major added.   The Qinhuangdao 29-6 Oilfield is the second one-hundred-million-ton-class lithological oilfield discovered in the mature exploration area of the Shijiutuo Uplift, CNOOC said. This further highlights the value of exploration and consolidates the resource base for increasing CNOOC’s reserves and production, according to the company.  In the middle of 2025, CNOOC launched production of heavy crude from its Kenli 10-2 Oilfields Development Project, which is the largest shallow lithological oilfield offshore China.   The project in the southern Bohai Sea will see 79 development wells commissioned, including 33 cold recovery wells, 24 thermal recovery wells, 21 water injection wells, and 1 water source well.   […]