China’s deep dive into hydrocarbon exploration unveils massive reserves


The $12.6 billion investment last year discovered vast reserves, countering global uncertainties

Success: CNOOC Ltd's Kaiping South discovery in the South China Sea’s Pearl River Mouth basin holds 745 million barrels of oil equivalent.
Success: CNOOC Ltd’s Kaiping South discovery in the South China Sea’s Pearl River Mouth basin holds 745 million barrels of oil equivalent.Photo: CNOOC LTD