CNOOC Ltd Welcomes the Early Start-up of LD 27-2

abarrelfullabarrelfull wrote on 28 Aug 2014 07:20
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Nov. 4 2009

CNOOC Limited (the “Company" or “CNOOC Ltd.”, NYSE: CEO, SEHK: 0883) announced today that Luda (LD) 27-2, a new independent field in Bohai Bay, has come on stream ahead of schedule. The field is producing at a volume of 11000 barrels of oil per day from 11 wells currently.

LD 27-2 is located in the Eastern Bohai Bay in about 25 meters of water. It is about 104 kilometers northwest to Qinhuangdao City of HeBei Province.

LD27-2 is adjacent to LD 32-2 oil field, an independent project of the Company under construction. In order to reduce production cost, a joint development plan was carried out for both fields. Major development facilities of LD27-2/32-2 include: two wellhead platforms, one production and storage platform and 34 production wells.

The peak production of LD 27-2/32-2 is designed at 13,000 barrels of oil per day. LD 32-2 is expected to be on stream later this year.

Mr. Yang Hua, President of the Company said: “Thanks to the effective project management and efficient leveraging of the operating sources, we are able to bring LD 27-2 on stream ahead of schedule.”

CNOOC limited acts as the operator and has a 100% interest in the LD 27-2/32-2 oil fields.

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