The Chinese state-owned oil company CNOOC has, according to its own information, found a new oil field in the eastern part of the South China Sea. According to the company, the field, called Huizhou 19-6, contains over 100 million tons of oil and is located approximately 170 kilometers from Shenzhen, north of Hong Kong. Test drilling has shown a possible daily production of 413 barrels of crude oil and 68,000 cubic meters of natural gas.
China is the world's largest oil importer and, according to an analysis by the US government, imports about 11.1 million barrels of crude oil daily. The country has been increasingly increasing its raw material reserves.
The South China Sea is characterized by territorial disputes, but according to the US energy authority EIA, most known oil and gas deposits are located outside the disputed areas. China claims almost the entire sea area, as do several neighboring countries such as Vietnam, Brunei, Indonesia, Malaysia and the Philippines.
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