CNOOC Adds Massive Gas Reserves in South China Sea Discovery

China’s authorities have approved the proved gas in-place volumes of over 100 billion cubic meters in a new discovery in the western part of the South China Sea, which is the world’s first large ultra-shallow gas play in ultra-deepwater, state oil and gas giant CNOOC said on Wednesday. The proved gas in place at the Lingshui 36-1 gas field, which stands at over 100 billion cubic meters, is now made official after the Chinese governmental authorities approved it, two months after the company announced the major exploration breakthrough…