China Discovers Major New Oilfield Near Shenzhen, Marking Strategic Offshore Breakthrough

Shenzhen, China – In a significant milestone for China’s energy sector, the China National Offshore Oil Corporation (CNOOC) has announced the discovery of a massive offshore oilfield in the eastern South China Sea, with proven reserves exceeding 100 million tonnes. The discovery underscores China’s accelerating momentum in offshore energy exploration and highlights the region’s untapped hydrocarbon potential.

The newly identified Huizhou 19-6 oilfield is located approximately 170 kilometers southeast of Shenzhen, in Guangdong Province. Early test results have revealed a daily output of 413 barrels of crude oil and 68,000 cubic meters of natural gas, signaling robust production prospects for the field.

A Breakthrough in China's Energy Ambitions

According to CNOOC’s Chief Executive Officer Zhou Xinhuai, the discovery represents a continuation of “successive breakthroughs” in China’s strategic offshore oil and gas efforts. Notably, this is the second consecutive year in which the state-owned energy major has uncovered an oilfield of such magnitude.

“This discovery creates a new growth pole for sustained development in offshore oil and gas production,” said Zhou.

Meanwhile, Chief Geologist Xu Changgui described the Huizhou 19-6 site as a "major geological breakthrough," adding that it is now classified as the largest clastic oilfield discovered in the northern part of the South China Sea. He emphasized that the find challenges previous geological theories and sets a new benchmark for future exploration in the region.

Geopolitical Implications

The discovery comes amid growing regional tensions over territorial claims in the South China Sea, a region long viewed as energy-rich yet underexplored. While much of the maritime zone remains contested, the oilfield lies within China’s undisputed waters, according to CNOOC and official sources.

The U.S. Energy Information Administration (EIA) has previously noted that the South China Sea holds vast hydrocarbon resources, but political disputes have hindered extensive exploration. Nonetheless, China's active efforts through CNOOC signal its intent to bolster energy independence and reduce reliance on foreign oil.

Energy Dependence and Economic Context

China, the world’s largest crude oil importer, reportedly imported an average of 11.1 million barrels per day in 2024. With global energy prices remaining volatile and geopolitical tensions affecting supply chains, domestic discoveries such as Huizhou 19-6 carry significant economic and strategic value.

The oilfield is expected to play a pivotal role in supporting the country’s long-term energy security strategy, particularly as China balances its carbon neutrality targets with the immediate need for reliable energy sources.