The China National Offshore Oil Corporation (CNOOC) announced that it discovered approximately 300 million tonnes of crude oil and natural gas reserves in China’s Bohai Sea in 2022. The major reason for this record high is the discovery of two oil fields last year, namely Bozhong 19-2 and Bozhong 26-6. The latter is a massive oil field with estimated crude oil and natural gas reserves exceeding 100 million tonnes of oil equivalent. A total of five oil fields with oil and gas reserves exceeding 100 million tonnes have been discovered in the Bohai Sea area during the past five years, while the accumulated newly discovered oil and gas reserves in the area exceeded 1 billion tonnes during this period.
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