China National Offshore Oil Corporation (CNOOC) announced on Monday that it has discovered a major oilfield in the eastern South China Sea

  • proven reserves exceeding 100 million tonnes
  • newly discovered Huizhou 19-6 oilfield
  • China's first large-scale integrated clastic oilfield discovered in deep to ultra-deep layers, said the CNOOC.

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An integrated clastic oilfield is an oilfield developed in clastic sedimentary rock formations, where the exploration, production, and infrastructure are coordinated as one unified operation.

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Source: Forex Live