Deep-drilling bodes well for Chinese oil exploration

Beijing (CNS) -- The sixth-generation semi-submersible CNOOC 981, owned by China National Offshore Oil Corp. (CNOOC), began drilling in the South China Sea on May 9. It marks a significant advance in China's sea oil exploration technology by global standards.

It is the first independent deep-water oil drilling to be conducted by a Chinese company, and China is the first country to explore deep-water oil and gas resources in the South China Sea.

Deep drilling remains the hardest task in oil exploration and the capacity has been monopolized by the giant oil companies of developed countries, said Che Junbo, an official from the Minister of Land and Resources. Che added that China's first deep-drilling rig has been developed domestically, and its successful operation represents a substantial step forward for China's deep-sea oil industry.

Depths greater than 300 meters are internationally recognized as deep waters and those greater than 1,500 meters are ultra-deep waters. Globally, 30 to 40 percent of marine resources are buried in deep waters and about half of major exploration sites are developed offshore.

The industry expert Qian Bozhang commented the May 9 drilling mission was an auspicious start for China's oil and gas exploration in deep waters.