OREANDA-NEWS. January 12, 2015. China National Offshore Oil Corporation (CNOOC; ticker: CEO) announced yesterday a new “mid-to-large sized” natural gas discovery.

The find, Lingshui 25-1, is located in the northeast of Ledong Sag in the Qiongdongnan Basin of the South Chinese Sea. The discovery well Lingshui 25-1-1 was drilled and completed at a depth of about 4,000 meters (13,123 feet) and encountered the oil and gas pay zone with a total thickness of about 73 meters (240 feet).

The company reported the well tested at about 35.6 MMcf/d and 395 BOPD.

Adding to a growing inventory

CNOOC’s announcement about Lingshui 25-1 is the company’s second discovery in as many months. On November 19, CEO reported that it had made a mid-size discovery, Lufeng 14-4, in the Eastern South China Sea. The discovery well Lufeng 14-4-1 tested around 1,320 BOPD.

These two discoveries come on the back of CNOOC starting production at its Liuhua 34-2 gas field, also in the Eastern South China Sea. The Liuhua 34-2 is one of three gas fields in the larger Liwan Gas Project, which the company expects to produce 180 Bcf per annum.