CNOOC Ltd. Announces the Startup of WZ 11-1

abarrelfullabarrelfull wrote on 27 Aug 2014 12:48

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May 18, 2007

CNOOC Limited (NYSE: CEO, SEHK: 883, “the Company") announced today that it has successfully brought on stream Wei Zhou (WZ) 11-1, an independent oilfield in the Western South China Sea. Currently the new field has one well producing over 2,100 barrels of oil per day.

WZ11-1 is located in the southwest of Weizhou Island in the Beibu Gulf, South China Sea. The field is adjacent to the producing fields WZ11-4 and WZ12-1, with water depth ranging from 30 to 40 meters.

There’s only one producing platform in WZ11-1 oil field. Its development and production mainly relied on the production facilities and sub-sea pipelines of the adjacent WZ 12-1.

WZ 11-1 is expected to see 7,200 barrels of oil per day at its peak production.

Mr. Liu Jian, Executive Vice President of the Company said, ”Marginal fields such as WZ11-1 can be commercialized by sharing facilities with surrounding oil fields. Previously the Company already successfully developed WZ6-1, another marginal field adjacent to WZ11-1, in the same way.”

CNOOC Ltd. holds 100% interests of WZ11-1.

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