China’s National Offshore Oil Corporation (CNOOC) has started production from the Lufeng oil fields regional development project located in the Eastern South China Sea.
Situated in waters with an average depth of around 140-330m, the Lufeng oil fields include Lufeng 14-4, 14-8, 15-1 and 22-1.
The main production facilities for the project include one subsea production system and two drilling production platforms.
CNOOC plans to start the development of 26 production wells and nine water injection wells.
In 2023, the project is expected to achieve approximately 46,000 barrels of crude oil per day of peak production capacity.
CNOOC president Xia Qinglong said: “The project adopts an integrated model of exploration, development and production, which maximised the asset value of oil fields region, meanwhile the safe commencement of production also safeguarded energy supply throughout the Greater Bay Area.”
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CNOOC owns a 100% interest in the Lufeng oil fields regional development project.
Earlier this year, CNOOC started production from the Caofeidian 6-4 oil field in the mid-west of Bohai offshore China.
The Caofeidian 6-4 field is anticipated to reach about 15,000 barrels of crude oil per day of peak production in 2023.
The project involves the development of 42 wells, consisting of 12 water injection wells, 30 production wells, and water source wells.
In September, CNOOC expressed interest in buying an additional stake from Petrobras in production rights for the Buzios oilfield, which is offshore Brazil, for $2.08bn.
The purchase option was part of contract signed in 2019 by Petrobras, CNOOC and CNODC in the bidding of the surplus volume to the ‘transfer of rights’ (TOR) agreement of the offshore field.