JPT CNOOC's "Major Find" In North Sea Is Biggest In 11 Years

Trent Jacobs 

The Chinese National Offshore Oil Corporaiton (CNOOC) has discovered a gas and condensate reservoir at the state-owned company’s Gelngorm prospect in the UK North Sea. The resource, located 118 miles east of Aberdeen, is estimated to hold close to 250 million bbl BOE. CNOOC tapped the reservoir in a water depth of 282 ft with a jackup rig. Total depth of the exploration well was just over 16,500 ft and gas and condensate pay zones were found with a thickness of 123 ft. The company had previously tried and failed to drill two prospect wells in 2017.