HONG KONG – CNOOC Ltd. (NYSE: CEO, SEHK: 00883, TSX: CNU) reports that its Enping 24-2 oil field has begun production.
The Enping 24-2 oil field is located in the Pearl River Mouth basin of the South China Sea with average water depths of 86 m (282 ft) to 96 m (315 ft). The main production facilities include one drilling and production platform, one FPSO, and 17 producing wells. Currently there are two wells producing 8,000 boe/d, and the project is expected to reach its peak production of 40,000 boe/d in 2017.
CNOOC holds 100% interest in, and acts as operator of Enping 24-2.