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Sinopec

Sinopec struck high yields of oil and natural gas in a test well offshore Beibu Bay in southwestern China. The Wei-4 well, 68 miles southwest of the city of Beihai, identified oil-bearing layers almost 328 ft thick. The well tested a first layer at rates of more than 9,200 B/D of oil and 2.53 MMcf/D of gas and a second layer at more than 8,600 B/D of oil and 2.68 MMcf/D of gas. The offshore discovery, in which Sinopec has a 100% interest, is rare for the company, which mainly drills onshore prospects.


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