Receive our newsletter – data, insights and analysis delivered to you
  1. News
February 3, 2015

CNOOC starts oil production from Jinzhou 9-3 project in Bohai, China

China National Offshore Oil Corporation (CNOOC) has commenced production at the Jinzhou 9-3 comprehensive adjustment project oilfield in the North Liaodong Bay in Bohai, China.

China National Offshore Oil Corporation (CNOOC) has commenced production at the Jinzhou 9-3 comprehensive adjustment project oilfield in the North Liaodong Bay in Bohai, China.

The main production facilities of the project in water depths ranging from 6.5m to 10.5m includes a central processing platform, one wellhead platform and 21 producing wells.

"15 wells are producing approximately 7,600 barrels of crude oil per day."

Currently, 15 wells are producing approximately 7,600 barrels of crude oil per day, with the project expected to reach its overall development plan (ODP) designed peak production of around 12,000 barrels per day later this year.

CNOOC also unveiled its business strategy and development plan for this year.

CNOOC CFO Zhong Hua said: "In response to challenges from falling oil prices, we will control our costs and strive for the effective implementation of our capital expenditure plan in order to improve the overall performance of the company."

The company’s net production target this year is in the range of 475 million barrels of oil equivalent (boe) to 495 million boe, with production from China and overseas accounting for approximately 67% and 33%, respectively.

Content from our partners
How the North of Tyne region is leveraging its legacy to define its future
Q&A with Chevron Lubricants’ Paul Sly, global industrial OEM specialist, and Nathan Knotts, global brand technical manager
The important role of antifoam agents in oil-gas separation and amine treating

CNOOC aims to produce around 509 million boe and 513 million boe in 2016 and 2017, respectively.

The company aims to drill 162 exploration wells and acquire around 36,000km of 2D seismic data, as well as approximately 14,000km² of 3D seismic data.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU