The total crude oil and condensate production of Asia in 2022 was 5.81mmbpd, a decrease of 0.48% when compared to 2021. The largest oil-producing countries in Asia are China, India and Indonesia. Through to 2030, annual crude oil and condensate production is forecasted to decrease by a CAGR of 4.21% to reach 3.95mmbpd. GlobalData uses proprietary data and analytics to provide a complete picture of the total Asia oil & gas fields segment. Buy the oil and gas fields profiles here.
Here are the 10 largest upcoming crude oil fields by reserves in Asia, according to GlobalData’s Oil & Gas, Upstream Fields Database.
1. Lufeng 12-3
Lufeng 12-3 is located in South China Sea, China. This crude oil field is owned by China National Offshore Oil (60.80%), SK Innovation Co (39.20%) and operated by SK Innovation Co. Production from this field is expected to begin in 2023 and is forecasted to peak in 2025, approximately at the rate of 0.10mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2081. The project is expected to have recoverable reserves of 664.8mmbbl of crude oil and condensate. Buy the profile here.
2. Cluster IIA
Cluster IIA is located in Bay of Bengal, India. This crude oil field is owned by Oil and Natural Gas Corp (100%) and operated by Oil and Natural Gas Corp. Production from this field is expected to begin in 2023 and is forecasted to peak in 2024, approximately at the rate of 0.08mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2034. The project is expected to have recoverable reserves of 136.57mmbbl of crude oil and condensate. Buy the profile here.
3. 15/33
15/33 is located in South China Sea, China. This crude oil field is owned by Cenovus Energy (49%), China National Offshore Oil (51%) and operated by China National Offshore Oil. Production from this field is expected to begin in 2024 and is forecasted to peak in 2026, approximately at the rate of 0.02mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2069. The project is expected to have recoverable reserves of 98.17mmbbl of crude oil and condensate.
4. Qinhuangdao 29-2/29-2E
Qinhuangdao 29-2/29-2E is located in Bohai Bay, China. This crude oil field is owned by China National Offshore Oil (100%) and operated by CNOOC. Production from this field is expected to begin in 2023 and is forecasted to peak in 2025, approximately at the rate of 0.01mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2064. The project is expected to have recoverable reserves of77.36mmbbl of crude oil and condensate.
5. Huizhou 26-6
Huizhou 26-6 is located in South China Sea, China. This crude oil field is owned by China National Offshore Oil (100%) and operated by CNOOC. Production from this field is expected to begin in 2028 and is forecasted to peak in 2030, approximately at the rate of 0.03mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2058. The project is expected to have recoverable reserves of 84.36mmbbl of crude oil and condensate.
6. D-31
D-31 is located in Arabian Sea, India. This crude oil field is owned by Antelopus Energy (100%) and operated by Arch Softwares. Production from this field is expected to begin in 2023 and is forecasted to peak in 2024, approximately at the rate of 0.02mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2049. The project is expected to have recoverable reserves of 71.67mmbbl of crude oil and condensate. Buy the profile here.
7. Bozhong 8-4
Bozhong 8-4 is located in Bohai Bay, China. This crude oil field is owned by China National Offshore Oil (100%) and operated by CNOOC. Production from this field is expected to begin in 2025 and is forecasted to peak in 2027, approximately at the rate of 0.02mbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2067. The project is expected to have recoverable reserves of 82.12mmbbl of crude oil and condensate.
8. Ande Ande Lumut
Ande Ande Lumut is located in Natuna Sea, Indonesia. This crude oil field is owned by Mitsui & Co (50%), Santos (50%) and operated by Mitsui & Co. Production from this field is expected to begin in 2024 and is forecasted to peak in 2025, approximately at the rate of 0.02mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2049. The project is expected to have recoverable reserves of 80.45mmbbl of crude oil and condensate. Buy the profile here.
9. Lufeng 7-1
Lufeng 7-1 is located in East China Sea, China. This crude oil field is owned by China National Offshore Oil (100%) and operated by CNOOC. Production from this field is expected to begin in 2023 and is forecasted to peak in 2025, approximately at the rate of 0.01mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2071. The project is expected to have recoverable reserves of 62.96mmbbl of crude oil and condensate.
10. Salman
Salman is located in South China Sea, Brunei. This crude oil field is owned by Government of Brunei Darussalam (50%), Shell (50%) and operated by Brunei Shell Petroleum Company. Production from this field is expected to begin in 2024 and is forecasted to peak in 2004, approximately at the rate of 0.02mmbpd of crude oil and condensate. Based on GlobalData estimates, production will continue until the field reaches its economic limit in 2050. The project is expected to have recoverable reserves of 61.53mmbbl of crude oil and condensate. Buy the profile here.
For more details on the upstream fields, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
