EM ASIA CREDIT: CNOOC Petroleum (CNOOC, A1/A+/NR) makes large gas find

CNOOC Petroleum (CNOOC, A1/A+/NR)

"CNOOC Limited Achieves Major Breakthrough in the Exploration of Buried Hills in the Beibu Gulf Basin" - BBG

• CNOOC has reported an oil & gas discovery at its Weizhou 10-5 oil and gas field, located in the Beibu Gulf of the South China Sea. According to the report the well can produce around 13.2m cubic feet of natural gas and 800 barrels of crude per day. Positive for spreads.