CNOOC announced it made two new exploration discoveries in the Bohai Bay off the Chinese coast.
The company said drilling operations at the Bozhong 8-4 and Kenli 10-4 wells encountered a combined 311 feet worth of oil reservoir and 36 feet of natural gas layer.
"The successful discovery of Bozhong 8-4 and Kenli 10-4 has extended our effective exploration activities in Bohai and further proven the rich oil and natural gas resources in this area," CNOOC exploration chief Zhu Weilin said in a statement Tuesday.
Bohai Bay is estimated to hold as much as 146 billion barrels of oil.
ConocoPhillips in 2011 observed "several small seeps" from a production platform in Bohai Bay associated with a release. Conoco said it had about 13,000 cubic feet of oil-based drilling mud cleaned up, which it said represented about 90 percent of the total volume released.
Ron Burgundy interviews Peyton Manning on SportsCenter
Toddler uninjured after being knocked over by Obama family dog