Beibu Gulf Project is a producing conventional oil field located in shallow water in China and is operated by CNOOC. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block Beibu Gulf 22/12, with water depth of 118 feet. Buy the profile here.
Field participation details
The field is owned by China National Offshore Oil, Hainan Mining, Horizon Oil and Majuko.
Production from Beibu Gulf Project
The Beibu Gulf Project conventional oil field recovered 50.56% of its total recoverable reserves, with peak production in 2014. The peak production was approximately 12.70 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2052.
Remaining recoverable reserves
The field is expected to recover 33.58 Mmboe, comprised of 33.58 Mmbbl of crude oil & condensate. Beibu Gulf Project conventional oil field reserves accounts 0.01% 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.
For more details on the Beibu Gulf Project Conventional Oil Field, buy the profile here.