China discovers major oilfield in South China Sea

SHENZHEN -- The China National Offshore Oil Corporation (CNOOC) announced on Monday that it has discovered a major oilfield in the eastern South China Sea, with proven reserves exceeding 100 million tonnes.

The newly discovered Huizhou 19-6 oilfield marks a breakthrough in China's offshore oil exploration, as it is the country's first large-scale integrated clastic oilfield discovered in deep to ultra-deep layers, CNOOC said.