CNOOC begins production at 2 locations in Pearl River Basin

China’s CNOOC Limited [NYSE: CEO, SEHK: 00883] said Dec. 28 that it has commenced production at two locations in the Pearl River Mouth Basin of the South China Sea, the Panyu 4-2/5-1 oil field adjustment project and the Liuhua 4-1 oilfield project.

Panyu 4-2/5-1 has an average water depth of about 100 meters (328 feet). The adjustment project was designed to share the existing facilities to develop the Panyu 4-2/5-1 oil field more effectively. The adjustment project is expected to hit its peak production in 2014.

CNOOC holds a 75.5% interest in the project and serves as operator of the Panyu 4-2/5-1 oil field. Burlington Resources China holds the remaining 24.5% interest.

The Liuhua 4-1 oil field has an average water depth of about 268 meters (879 feet). In view of the features of the oil field, CNOOC built a new subsea production system while sharing the surrounding facilities for overall development. This project is expected to hit its peak production in 2013.

The Liuhua 4-1 is an independent oil field in which CNOOC holds 100% interest and serves as operator.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...