CNOOC Ltd. (TSX: CNU) reports that the Huizhou 25-8 Oilfield/Xijiang 24-3 Oilfield Xijiang 24-1 District Joint Development Project has begun production.
This project is in the Pearl River Mouth Basin of the South China Sea with an average water depth of 100 m (328 ft). The main production facilities include two drilling and production platforms and 29 producing wells. Four wells are producing 6,300 b/d, and the project is expected to reach peak production of 33,000 b/d in 2016.
Operator CNOOC holds a 100% equity interest in the project.