As per a report by Xinhua news agency, the China National Offshore Oil Corporation (CNOOC) has discovered an oilfield in the South China Sea that has more than 100 million tonnes of proven reserves. The newly identified Huizhou 19-6 oilfield is located within China's Exclusive Economic Zone, not in a disputed area of the South China Sea. The oilfield, situated approximately 170 km off the coast of Shenzhen, is in waters that are around 100 meters deep on average. Initial test drilling has shown a daily production of 413 barrels of crude oil and 68,000 cubic metres of natural gas.

Known as China's first significant clastic oilfield integrated in deep to ultra-deep layers, the Huizhou 19-6 oilfield poses challenges due to the high temperatures and pressures at such depths. China aims to decrease its reliance on oil imports to enhance its energy security; however, it is anticipated that its crude oil imports will reach a peak as early as next year as demand for transport fuel starts to decrease. This significant discovery was highlighted at the China International Fair for Trade in Services (CIFTIS) in Beijing.