CNOOC Ltd. Announces the Startup of New Platform of PL 19-3 Oil Field

abarrelfullabarrelfull wrote on 27 Aug 2014 12:38

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November 27, 2007

CNOOC Limited (NYSE: CEO, SEHK: 883, “the Company") announced today that Platform C of Phase Ⅱ of Penglai (PL) 19-3 has come on stream successfully.

This is the first Wellhead Platform starting production in Phase Ⅱdevelopment of PL19-3. The development facilities in PhaseⅡof PL19-3 include: 5 wellhead platforms, a central processing facility and a world-class FPSO, with a designed processing capacity of 190,000 barrels of oil per day.

PL19-3 oil field is located in Block 11/05 in Bohai Bay, the largest oil field offshore China currently. The field is jointly developed by CNOOC Ltd. and ConocoPhillips China Inc. (COPC). CNOOC Ltd. holds 51% interest of PL 19-3 and the Operator, COPC holds the rest 49%.

Phase Ⅰof PL 19-3 has started production successfully in December 2002.

Mr. Liu Jian, Executive Vice President of the Company commented, ”With joint efforts of the Company and our partner COPC, the successful startup of Platform C indicated an important progress in development of Phase Ⅱof PL 19-3 oil field. Our continuing mutual cooperation will facilitate production of PL 19-3 on full scale at an early date.”

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