China’s CNOOC Ltd has hit oil in an offshore exploration well on Block 22/12 in China’s Beibu Gulf.
Joint venture partner Horizon Oil confirmed Friday the WZ 6‐12 M1 exploration well had reached a depth of 2025 metres, with the well achieving its objective of drilling through the Oligocene‐ aged Weizhou T30 to T32 sand, with indications of oil found in the T30A, T31L, T31C and T32L sands.
