Caofeidian 2-1 is a conventional oil development located in shallow water in China and is operated by CNOOC. Caofeidian 2-1 lies in block Block 04/36, with water depth of around 98 feet.
The project is currently in feasibility stage and is expected to start commercial production in 2024.
Field participation details
The field is owned by China National Offshore Oil, Brightoil Petroleum (Holdings) and China National Petroleum.
Production from Caofeidian 2-1
Production from the Caofeidian 2-1 conventional oil development project is expected to begin in 2024 and is forecast to peak in 2026, to approximately 5,540 bpd of crude oil and condensate and 6 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2073.
Remaining recoverable reserves
The field is expected to recover 36.17 Mmboe, comprised of 31.03 Mmbbl of crude oil & condensate and 30.88 bcf of natural gas reserves.
About CNOOC
CNOOC Ltd (CNOOC), a subsidiary of China National Offshore Oil Corp, is an upstream oil and gas company. It carries out the exploration, development, production, and sale of crude oil and natural gas. The company operates major oil fields in Bohai, Western South China Sea, Eastern South China Sea, and the East China Sea. It operates either independently or in cooperation with foreign partners through production sharing contracts. In overseas, the company holds interests in oil and natural gas blocks in Asia-Pacific, Europe, Middle East and Africa, and the Americas. CNOOC is headquartered in Beijing City, Beijing, China.
Methodology
Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.
