Luda 16-3/21-2 joint development project is a producing conventional oil field located in shallow water in China and is operated by CNOOC. The field has water depth of 66 feet.
An expansion project is associated with the Luda 16-3/21-2 joint development project, namely Luda 21-2 Development. This project is currently in the feasibility stage.
Field participation details
The field is owned by China National Offshore Oil.
Production from Luda 16-3/21-2 joint development project
The Luda 16-3/21-2 joint development project conventional oil field recovered 1.85% of its total recoverable reserves, with peak production expected in 2022. The peak production will approximately 26.5 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2079.
Remaining recoverable reserves
The field is expected to recover 166.74 Mmboe, comprised of 166.74 Mmbbl of crude oil & condensate. Luda 16-3/21-2 joint development project conventional oil field reserves accounts 0.03% of total remaining reserves of producing conventional oil fields globally.
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.
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.