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November 25, 2021updated 26 Nov 2021 5:48am

Peng Lai 19-3,19-9,25-6 Conventional Oil Field, China

By Carmen

Peng Lai 19-3,19-9,25-6 is a producing conventional oil field located in shallow water in China and is operated by CNOOC. The field is located in block Block 11/05, with water depth of 75 feet.

Two expansion projects are associated with the Peng Lai 19-3,19-9,25-6 conventional oil field, namely Bohai Phase 4B and Bohai Phase 5. The expansion projects are currently in the feasibility stage, targeting start-up during 2024 – 2025.

Field participation details

The field is owned by China National Offshore Oil and ConocoPhillips.


Production from Peng Lai 19-3,19-9,25-6

The Peng Lai 19-3,19-9,25-6 conventional oil field recovered 42.42% of its total recoverable reserves, with peak production in 2010. The peak production was approximately 114.29 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2047. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 532.92 Mmboe, comprised of 532.39 Mmbbl of crude oil & condensate and 3.18 bcf of natural gas reserves. Peng Lai 19-3,19-9,25-6 conventional oil field reserves accounts 0.11% 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.

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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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