Lufeng 7-1 is a conventional oil development located in shallow water in China and is operated by CNOOC. Discovered in 2008
The project is currently in feasibility stage and is expected to start commercial production in 2023.
Field participation details
The field is owned by China National Offshore Oil and Ovintiv.
Production from Lufeng 7-1
Production from the Lufeng 7-1 conventional oil development project is expected to begin in 2023 and is forecast to peak in 2025, to approximately 11,243 bpd of crude oil and condensate and 7 Mmcfd of natural gas. 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 69.26 Mmboe, comprised of 62.96 Mmbbl of crude oil & condensate and 37.81 bcf of natural gas reserves.
Contractors involved in the Lufeng 7-1 conventional oil field
The key contractors involved in the Lufeng 7-1 project as follows.
Other Contractors: Schlumberger
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.