China’s state-owned offshore oil and gas firm CNOOC has announced the commencement of production at the Jinzhou 25-1 oilfield 6/11 area located offshore China.
The Jinzhou 25-1 oilfield 6/11 area is located in central Liaodong Bay in Bohai. The average water depth of the field is 22.5m.
In addition to completely utilising the existing facilities of Jinzhou 25-1 and 25-1S oilfields, CNOOC noted that the project has built one eight-legged wellhead platform.
According to CNOOC, a total of 19 production wells, as well as ten water injection wells, are planned for the project.
The project is expected to reach peak production of about 16,500 barrels per day (bpd) of crude oil in 2023.
CNOOC owns 100% interest in the Jinzhou 25-1 oilfield 6/11 area.
Recently, CNOOC commenced production at the 16-2 oilfield / 20-2 oilfield joint development project. Located in the Eastern South China Sea, the project is part of the Liuhua cluster.
The Liuhua oil fields project includes the joint development of the Liuhua 16-2, 20-2 and 21-2 oil fields. The three fields lie in the South China Sea in water depths ranging from 380m to 430m.
Last month, CNOOC said that its profits in the first half of the year plummeted by nearly two-thirds as the Covid-19 pandemic affected fuel demand. In the first half of this year (H1-2020), CNOOC registered a profit of $1.5bn.
In June, CNOOC announced that it made a significant discovery of Huizhou 26-6 in the Eastern South China Sea.
