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SAIB reports $139 million Q1 net profit

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Last year, it announced 9,000 job cuts worldwide.

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Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

China discovers world’s largest metamorphic rock oilfield in Bohai Sea

These reserves exceed 40 million cubic meters, contributing to the cumulative proven reserves of the field. (WAM)
By TRENDS Desk
February 26, 2024 7:33 pm
  • The Bohai 26-6 oilfield is situated approximately 170 kilometers from Tianjin Municipality.
  • It has been anticipated that the average daily oil production will surpass 390 cubic meters.

BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock oilfield in the Bohai Sea.

According to China Central Television, the Bohai 26-6 oilfield, situated approximately 170 kilometers from Tianjin Municipality, has recently confirmed an unprecedented volume of oil and gas reserves.

These newly established reserves exceed 40 million cubic meters, contributing to the cumulative proven reserves of the field which have now surpassed 200 million cubic meters.

During the process of drilling exploration, engineers made the significant discovery of an oil and gas layer reaching a depth of 118 meters.

It is anticipated that the average daily oil production will surpass 390 cubic meters, while the gas output is projected to exceed 50,000 cubic meters.

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