Uganda's second biggest oil and gas stakeholder discovers new major oilfield

The announcement was made yesterday March 3, 2023, a few months after the company joined the President to officially launch oil drilling activities at Kingfisher Development Area in Kikuube District.

CNOOC owns one-third interests in each of the Exploration Areas (EA) EA1/1A, EA2, and Kingfisher. According to MarcoPolis, it is ranked second among oil and gas companies in Uganda's energy sector.

The Bohai Sea, where the new oilfield well BZ26-6-2 was drilled, has an average water depth of 22 metres. The oil property is light crude and the oil-bearing play is Archean buried hill.

The drill was completed at 4,480 metres covering a total of 321.3 metres of oil pay zones. It was tested to produce approximately 2,040 barrels of crude oil and 11.45 million cubic feet of natural gas daily.

“Bohai Sea has been one of the targeted areas of exploration for the Company. We will keep looking for mid-to-large sized oil and gas fields and continue to discover new momentum for offshore oil and gas developments, helping to fortify the resource foundation for the high-quality and sustainable development of the Company," said Zhou Xinhuai, CEO of the Company.

According to the Deputy Chief Exploration Engineer of the Company, Xu Changgui, the new oilfield has boosted their capacity to handle more exploration in Bohai and other basins of its kind.

“Bozhong 26-6 oilfield is the third oilfield discovery with a hundred million tons of reserves in the southern Bohai Sea after Kenli 6-1 and Kenli 10-2. It is identified as the largest metamorphic buried hill oilfield in China. The discovery demonstrates the broad prospect of exploration for subtle buried hills in the Bohai Sea, providing important guidance for exploration in similar basins," Changgui said.