By OGJ editors
HOUSTON, Oct. 26 -- Kerr-McGee Corp. Monday reported its eighth Bohai Bay oil discovery off China—the CFD 14-5-1 well in Block 09/18.
The well, in 75 ft of water, was drilled to 13,970 ft TD and encountered 85 ft of net oil pay. It flowed 26° gravity crude from the Eocene Shahejie sand.
Kerr-McGee, which expects to spud the first appraisal well before yearend, holds 100% foreign interest in Block 09/18. Upon governmental approval of development plans, China National Offshore Oil Corp. will have the right to back in for a 51% interest.
Kerr-McGee operates four exploration licenses in western Bohai Bay, with two fields producing 30,000 b/d from 15 wells and development drilling under way. The company expects to increase gross production to 40,000-45,000 b/d by mid-2005.
