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China's Bohai Sea gas field produces over one billion cubic meters of natural gas

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      China

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      China's Bohai Sea gas field produces over one billion cubic meters of natural gas

      2024-08-24 16:24 Last Updated At:21:27

      China National Offshore Oil Corporation (CNOOC) announced that its Bozhong 19-6 Condensate Gas Field in the Bohai Sea has produced over one billion cubic meters of natural gas, providing strong support for the gas demand in the Beijing-Tianjin-Hebei region and the Bohai Rim region.

      The project, located in central Bohai Sea with an average water depth of approximately 20 meters, is the first large-scale and fully developed gas field with over 100 billion cubic meters of reserves in eastern China.

      Adopting a phased development approach, the company put into operation the pilot area project in October 2020 and the phase I project in November 2023 respectively.

      "At present, the field has a peak daily natural gas production capacity of 2.4 million cubic meters -- a testament to the rich potential of offshore deep-layer oil and gas deposits. It also hold crucial and practical value for the safe and efficient development of gas projects in the future," said Jiang An, general manager of an extraction company under the Tianjin branch of China National Offshore Oil Corporation (CNOOC).

      The verified geological reserve of natural gas of the field exceeds more than 200 billion cubic meters and that of crude oil is more than two million cubic meters.

      A total of six offshore oil and gas platforms have been constructed at the field.

      "At the current stage, the development of the Bozhong 19-6 Condensate Gas Field has entered a critical period for ramping up production. With a deeper grasp of the reservoir's distribution pattern and geologic characteristic, the field is kicking off its phase II project -- a move that will pave the way for large-scale development of the super-deep oil and gas resources in the Bohai Sea region," said Zhang Chunsheng, deputy general manager of the Tianjin branch company of CNOOC.

      China's Bohai Sea gas field produces over one billion cubic meters of natural gas

      China's Bohai Sea gas field produces over one billion cubic meters of natural gas

      Next Article

      US stocks nosedive on escalating trade tensions

      2025-04-05 00:51 Last Updated At:02:17

      U.S. stocks plunged again during Friday's morning session as investors braced for escalating trade tensions sparked by President Donald Trump's reciprocal tariffs.

      As of 10:15 Eastern Time (14:15 GMT), the Dow Jones Industrial Average had dropped 1,286.43 points, or 3.17 percent, to 39,259.50. The S and P 500 fell 201.77 points, or 3.74 percent, to 5,194.75, while the Nasdaq Composite declined 645.31 points, or 3.9 percent, to 15,905.30.

      Markets also suffered sharp losses on Thursday, with the Dow, S and P 500, and Nasdaq falling 3.98 percent, 4.84 percent, and 5.97 percent, respectively.

      According to U.S. media reports on Friday, the combined market value of the seven major U.S. tech stocks dropped by approximately 1.03 trillion U.S. dollars during Thursday's trading session.

      According to a CNBC report, following China's countermeasures against Trump's so-called reciprocal tariffs, investors are concerned that a potential trade war could push the global economy into recession -- a key factor behind the sharp decline in the U.S. stock market at the opening.

      US stocks nosedive on escalating trade tensions

      US stocks nosedive on escalating trade tensions

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