New Fields CFD 11-3/5 Came on Stream in Bohai Bay

abarrelfullabarrelfull wrote on 27 Aug 2014 11:31

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Nov 8, 2005

CNOOC Limited (the "Company" or “CNOOC Ltd.”; NYSE “CEO”, SEHK “883”) is pleased to announce today that it has achieved initial production from the Caofeidian (CFD) 11-3/5 fields in block 04/36 in Bohai Bay. Using an unmanned facility, the fields are producing at the peak capacity of 13,800 barrels of oil per day currently.

CFD11-3/5 fields are located in the western Bohai Bay in an average water depth of about 25 meters. To further enhance the economics of the fields, the development is combined with CFD 11-1 and CFD 11-2.

Mr. Liu Jian, Executive Vice President of the Company commented, “We are satisfied with the cost effective development of CFD 11-3/5. The successful completion of the fields is an excellent example of our cooperation with international partners.“

The Company holds a 51% interest of the fields. Kerr-McGee is the operator with a 40% interest. Sino American Energy Corp., a subsidiary of Ultra Petroleum, is another partner with 9% interest.

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