A consortium comprising CNOOC Limited, ChevronTexaco and Petronas Carigali (the exploration and production arm of Petronas, Malaysia’s state-owned oil company) have confirmed an oil discovery in China’s Liaodong Bay 02/31 Block in Bohai Bay. The appraisal well, LD 27-2-3, which was drilled in 21 meters of water to a total depth of 2,700 meters, encountered…

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