New Oil and Gas Field Found in South China Sea

State-owned offshore oil and gas producer China National Offshore Oil Corp said Thursday that the company has discovered the first deep-water deep-stratum large gas field in the South China Sea. The Baodao 21-1 Gas Field, located in Qiongdongnan Basin, has a proven in-place of natural gas and condensate oil at over 50 billion cubic meters and 3 million cubic meters respectively, said the company.

Baodao 21-1 gas field will lay a solid foundation for the construction of a gas production base of trillion cubic meters resources in the South China Sea. According to the overall plan, the total proven in-place of natural gas reserves of the three basins in China will reach 1 trillion cubic meters.

In the future, undersea clean energy will be directly connected to the Guangdong-Hong Kong-Macao Greater Bay Area and Hainan Island, providing guarantee for regional construction and energy structure transformation.