Another Milestone For Chinese Oil Firm

China National Offshore Oil Corporation (CNOOC) informs its new oil field Qikou 18-2 in Bohai Bay has successfully come on-stream. The field is producing more than 2800 bpd from 5 wells currently.

QK18- 2 field is a part of Boxi oil fields. It is consist of a production platform and a subsea pipeline. The field shares some production facilities with other Boxi Oil Fields.

According to Mr. Shouwei, CNOOC president, the Company has a busy development schedule this year. The successful completion of QK 18-2 is yet another milestone for them. This and other development will help us achieve offshore China's production target and allow us to take advantage of the current oil prices."

The Company owns 100% interest of the discovery.