Two new projects commence production in offshore China

Source: CNOOC Limited

CNOOC Limited announced that the Weizhou 12-2 oilfield joint development project (Weizhou 12-2) and Weizhou 11-4 North oilfield Phase II project (Weizhou 11-4 North) have recently commenced production.

CNOOC Limited announced that the Weizhou 12-2 oilfield joint development project (Weizhou 12-2) and Weizhou 11-4 North oilfield Phase II project (Weizhou 11-4 North) have recently commenced production.

The Weizhou 12-2 project is located in Beibu Gulf Basin of the South China Sea with an average water depth of approximately 36 meters. This project has three oilfields in total including the Weizhou 12-2 oilfield, the Weizhou 12-1 West oilfield and the north part of Weizhou 11-2 oilfield. The main production facilities include three wellhead platforms and 18 producing wells which have all commenced production, producing a total of approximately 16,000 barrels of crude oil per day and reaching its ODP designed peak production.

Weizhou 11-4 North project is located in Beibu Gulf Basin of the South China Sea with an average water depth of approximately 40 meters. The project shares the existing adjacent facilities for the development and built two wellhead platforms and 15 producing wells. There is currently one well on production, producing a total of approximately 500 barrels of crude oil per day. The project is expected to reach its ODP designed peak production of approximately 8,000 barrels per day within the year.

The Weizhou 12-2 and Weizhou 11-4 North are both independent oilfields in which the Company holds 100% interest and acts as the operator.

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