BG has made a discovery on Block 64/11 in the deepwater Qiongdongnan Basin, 130 km off China, where its Lingshui 22-1-1 ex- ploration well encountered gas-bearing sands. The well was drilled to a depth of 1,338 meters in the South China Sea. The exploration well is the first drilled in China by the UK gas giant, which will carry out further analysis of the results. The com- pany owns 100% of the block, but China Na- tional Offshore Oil Corp. (CNOOC) has the right to take up to 51% if the block receives development approval. CNOOC Executive Vice President Zhu Weilin said: “This is the first deepwater well in the Qiongdongnan Basin. We are excited about the well results. It has further strengthened our confidence in deepwater exploration in this area.” CNOOC said it signed a production-sharing contract with BG for Block 64/11 in June 2006.
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