China's national oil giant CNOOC has discovered a new oilfield with a volume of 100 million tons in the South China Sea. The Kaiping South Oilfield, located 300 kilometers off the coast of Guangdong province, has a proved in-place volume of 102 million tons of oil equivalent.
The oilfield is China's first deep-water and deep-play oilfield with such a large volume. CNOOC remains committed to exploring and developing oil and gas resources in the South China Sea.
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