CNOOC - Two New Projects Started Production Successfully

abarrelfullabarrelfull wrote on 03 Jan 2013 08:45
Tags: asia china cnooc upstream

Latest News

{"module":"feed\/FeedModule","params":{"src":"http:\/\/killajoules.wikidot.com\/feed\/pages\/pagename\/blog%3A_start\/category\/blog\/limit\/10\/t\/My+Blog","limit":"3","module_body":"* %%linked_title%%"}}
  • Want a weekly review of refining news?

CNOOC Limited (the “Company”, NYSE: CEO, SEHK: 00883) today announced that Panyu 4-2/5-1 oil field adjustment project and Liuhua 4-1 oil field located in the Pearl River Mouth Basin of South China Sea, successfully commenced production.

Panyu 4-2/5-1 oil field has an average water depth of about 100 meters. The adjustment project was designed to share the existing facilities to develop Panyu 4-2/5-1 oil field more effectively. The adjustment project was expected to hit its peak production in 2014.

The Company holds 75.5% interest and acts as the Operator of Panyu 4-2/5-1 oil field. Our partner Burlington Resources China holds the remaining 24.5% interest.

Liuhua 4-1 oil field has an average water depth of about 268 meters. In view of the features of the oil field, the Company built a new subsea production system while sharing the surrounding facilities for overall development. This project is expected to hit its peak production in 2013.

Liuhua 4-1 is an independent oil field in which the Company holds 100% interest and acts as the Operator.

Related News

{"module":"feed\/FeedModule","params":{"src":"http:\/\/killajoules.wikidot.com\/feed\/pages\/pagename\/blog%3A_start\/tag\/upstream\/category\/blog\/limit\/10\/t\/My+Blog","limit":"3","module_body":"* %%linked_title%%"}}

Looking for information on the E&P sector?

asiachinacnoocupstream
Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License