New reserves of 100 million tons of oil and gas in South China Sea

Beijing, An oilfield was discovered in the South China Sea on Friday, containing 102 million tonnes of oil and gas reserves, according to the China National Offshore Oil Corporation (CNOOC). The Kaiping South oilfield, containing light crude, is located in the eastern part of the South China Sea, about 300 km from Shenzhen, Guangdong province.

The average depth of the sea in the oilfield is about 500 meters, but the deepest area is 4,831 meters, Xinhua news agency reported. Zhou Xinhuai, chief executive officer of CNOOC, said deepwater exploration and drilling deep holes will increase oil and gas production.