Anadarko Starts Production from New Satellite Facilities in Bohai Bay, China

abarrelfullabarrelfull wrote on 17 Jul 2014 07:22

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Oct. 18, 2006

Anadarko Petroleum Corporation (NYSE:APC) today announced it has commenced oil production from the unitized CFD 11-6/CFD 12-1S development project in Bohai Bay, China.

Anadarko expects to have 10 wells on line and producing approximately 15,000 barrels of oil per day by the end of October. Development drilling is ongoing, with gross production expected to ramp up to 22,000 barrels of oil per day from 22 wells by mid-2007.

The development project straddles blocks 04/36 and 05/36 in Bohai Bay in about 75 feet of water. The project consists of a core-area gathering platform and two smaller unmanned satellite platforms, which are tied back approximately 13 kilometers to the Hai Yang Shi You 112 floating production, storage and offloading vessel.

Anadarko is operator of the unitized development project with a 29.18 percent interest. CNOOC Ltd. (NYSE:CEO) has a 51 percent interest, Newfield Exploration Company (NYSE:NFX) has a 12 percent interest and Ultra Petroleum Corporation (AMEX:UPL) has a 7.82 percent interest.

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