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A group of energy companies have pledged to expand oil and gas production in China, with a stronger focus on natural gas supplies.
China National Offshore Oil Company (CNOOC) aims to boost domestic oil and gas reserves as part of a ten-year plan to reach an annual output of 30 million tonnes at its Baohai Bay fields.
They may not be the biggest reserves on the planet, but the move reflects President Xi Jinping’s mission to boost his nation’s energy security.
Let’s take a look at other big oil discoveries that continue to boost the Oil & Gas sector.
Make Benefit Glorious Nation
Kazakhstan is not only famous for Sacha Baron Cohen’s comedy character Borat and his Glorious Nation slogan.
Its Kashagan field, which was discovered in 2000, is believed to hold 38 billion barrels of oil.
Despite the extreme weather conditions, sensitive environmental issues, high pressures and corrosive fluids, many global oil companies are drilling here, with ambitions to create a primary supply source for an oil pipeline to China.
Bingo in Bahrain!
In April this year Bahrain made an oil discovery off its west coast and it’s the biggest since the black stuff was first discovered here in 1932.
It may be the smallest oil producer in the Arabian Gulf but this new find is estimated to contain significant quantities of ‘tight oil and deep gas’.
Most of the country’s current production, which averages 210,000 barrels of oil every day, comes from the offshore Abu Safah field, which it shares with Saudi Arabia, the world’s biggest oil exporter.
Meet the young ones
At the start of this year BP made two new oil and gas discoveries much closer to home.
One find was in Block 29/4e of the central North Sea and has been named Capercaillie, while the other is in Block 206/9b, west of Shetland, and is to be called Achmelvich.
It’s hoped both finds will help reverse a gradual decline in output since the late 1990s.
With seven field start-ups in 2017 and five due to kick off this year, BP plans to boost production by 800,000 barrels every day by 2020. That’s great news if you’re planning to enjoy a rewarding career in this sector.
And for the biggest discoveries in Oil & Gas recruitment, there’s no place better to start than s1jobs.