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April 28, 2022

Luda 16-3 South Conventional Oil Field, China

By Carmen

Luda 16-3 South is a conventional oil development located in shallow water in China and is operated by CNOOC. Discovered in 2014

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.


Production from Luda 16-3 South

Production from the Luda 16-3 South conventional oil development project is expected to begin in 2024 and is forecast to peak in 2026, to approximately 10,604 bpd of crude oil and condensate. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2071.


Remaining recoverable reserves

The field is expected to recover 59.01 Mmboe, comprised of 59.01 Mmbbl of crude oil & condensate.


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.

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