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November 24, 2021updated 27 Apr 2022 12:57pm

Panyu 4-2, 5-1, 11-6 Conventional Oil Field, China

By Carmen

Panyu 4-2, 5-1, 11-6 is a producing conventional oil field located in shallow water in China and is operated by CNOOC. The field is located in block Block 15/34, with water depth of 363 feet.

Field participation details

The field is owned by China National Offshore Oil.


Production from Panyu 4-2, 5-1, 11-6

The Panyu 4-2, 5-1, 11-6 conventional oil field recovered 75.32% of its total recoverable reserves, with peak production in 2004. The peak production was approximately 77.55 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2043.


Remaining recoverable reserves

The field is expected to recover 92.07 Mmboe, comprised of 92.07 Mmbbl of crude oil & condensate. Panyu 4-2, 5-1, 11-6 conventional oil field reserves accounts 0.02% of total remaining reserves of producing conventional oil fields globally.


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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