Phillips delineating major find in Bohai Bay

Phillips Petroleum Co. unit Phillips China Inc. has drilled and tested its third successful well on Bozhong Block 11/05 in China's Bohai Bay, confirming what appears to be a major oil discovery.The find follows the drilling of discovery well PL 19-3-1 and appraisal well PL 19-3-2, which were completed earlier this year (OGJ, July 19, 1999, p. 36). A third well, PL 19-3-3, was drilled above target zone and subsequently plugged and abandoned.Phillips acquired the right to explore the 2.3 million-acre block in 1994 when it signed a petroleum exploration and development contract with China National Offshore Oil Corp. (CNOOC). Phillips holds a 100% participating interest, but CNOOC maintai...

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