The Chinese government has approved the environmental impact assessment (EIA) for offshore operator CNOOC Ltd’s Bozhong 26-6 giant shallow-water oilfield development in Bohai Bay.

This regulatory milestone signals a significant step forward for CNOOC Ltd in its pursuit of initial oil production from the field in two years’ time. Bozhong 26-6 is estimated to contain more than 130 million tonnes (950 million barrels) of oil equivalent, sufficient to produce a cumulative 20 million tonnes of oil and 9 billion cubic metres of gas.