Latest news with #ChinaNationalOffshoreOilCorporation
Yahoo
a day ago
- Business
- Yahoo
CNOOC starts oil production at South China Sea field
China National Offshore Oil Corporation (CNOOC) has commenced production at the Weizhou 5-3 oilfield development project in the Beibu Gulf Basin of the South China Sea. With an average water depth of around 35m, the project is expected to reach peak production of approximately 10,000 barrels of oil equivalent per day (boepd) by 2026. The Weizhou 5-3 Oilfield utilises one self-installing wellhead platform and uses nearby existing facilities for its development. The production plan includes the commissioning of ten development wells, consisting of seven production wells, two water injection wells and one gas injection well. CNOOC owns a 51% interest in the Weizhou 5-3 oilfield, while Smart Oil Investment holds the remaining 49% stake. CNOOC is reputed to be the largest producer of offshore crude oil and natural gas in China and one of the largest independent oil and gas exploration and production companies globally. The company focuses mainly on the exploration, development, production and sale of crude oil and natural gas. In China, CNOOC carries out oil and gas exploration and development primarily via independent operations and cooperation projects. The company has been increasing its reserves and production mainly through independent exploration and exploitation. As of the end of 2024, around 88.7% of net proved reserves and 85.1% of net production in China were from the company's self-operated oil and gas fields. In April, CNOOC commenced production at the Wenchang 9-7 Oilfield Development Project in the western Pearl River Mouth Basin. Furthermore, in March, production began at two additional projects: the Caofeidian 6-4 Oilfield Comprehensive Adjustment project and the Wenchang 19-1 oilfield phase two project. "CNOOC starts oil production at South China Sea field" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Arabian Post
6 days ago
- Business
- Arabian Post
East African Crude Oil Pipeline Hits Key Milestone
The East African Crude Oil Pipeline , stretching 1,443 kilometres from Uganda to the Tanzanian port of Tanga, has passed the 60 percent completion mark, marking a significant step forward in one of Africa's largest infrastructure projects. This progress highlights the accelerating momentum in the development of critical energy infrastructure in the East African region, with implications for the economies and geopolitics of multiple countries. The pipeline, designed to transport up to 216,000 barrels of crude oil per day from the oil fields in Uganda's Lake Albert region to the Indian Ocean coast in Tanzania, aims to bolster export capacity and drive regional economic growth. It is being developed by a consortium led by the French oil giant TotalEnergies and China National Offshore Oil Corporation , alongside the governments of Uganda and Tanzania. The project is expected to be operational by 2025, facilitating Uganda's first significant oil exports and enhancing Tanzania's position as a regional energy hub. Reports from the Tanzanian construction sites indicate steady progress on various segments of the pipeline. Significant advancements have been made on the laying of pipes through diverse terrains including wetlands, forests, and agricultural lands. The project faces ongoing challenges due to the difficult environmental conditions and the need to balance ecological preservation with development objectives. However, the construction teams have implemented numerous mitigation strategies to reduce environmental impact, including careful route planning and community engagement efforts. ADVERTISEMENT Beyond the engineering and logistical achievements, the EACOP project has attracted considerable attention from environmental groups and local communities. Concerns over potential oil spills and long-term environmental degradation have been raised, particularly given the pipeline's passage through sensitive ecosystems such as the Lake Victoria basin and the Kazinga Channel. Environmentalists have urged the companies and governments involved to uphold rigorous safety standards and transparency to safeguard biodiversity and water resources. On the economic front, the pipeline is expected to create thousands of jobs across Uganda and Tanzania during construction and operation phases. Both governments project increased revenues from oil exports, which could translate into enhanced public services and infrastructure development. The project is also seen as a driver for regional integration, potentially strengthening trade ties within the East African Community through improved energy connectivity. Internationally, the EACOP project positions East Africa as a growing player in the global oil market. The completion of this pipeline will diversify crude oil supply routes and reduce reliance on pipelines running through unstable regions, such as those traversing Sudan or South Sudan. This could have broader implications for energy security in the region and beyond, influencing investment flows and geopolitical alignments. Technical reports indicate that the pipeline's infrastructure includes advanced safety features, such as leak detection systems and automated shut-off valves, which are essential in mitigating risks associated with large-scale oil transportation. The project consortium has committed to adhering to international standards throughout the construction and operational phases, a commitment that will be closely monitored by independent auditors and regulatory authorities. The financing of the EACOP pipeline reflects a mix of public and private investment, with considerable involvement from international financial institutions and development banks. This diversified funding approach aims to ensure the project's sustainability and financial viability while aligning with global best practices on transparency and governance. Despite fluctuations in global oil prices and increasing pressure for greener energy alternatives, the pipeline continues to attract financial backing due to its strategic importance. ADVERTISEMENT Local communities along the pipeline route have experienced both benefits and challenges. Job opportunities and infrastructure improvements have contributed positively to many areas, but there have also been disputes over land acquisition and compensation. Authorities from Uganda and Tanzania have been engaged in ongoing dialogues with community representatives to address grievances and ensure fair treatment for affected populations. The pipeline is expected to play a transformative role in Uganda's oil sector, allowing the landlocked country to export crude directly to global markets. This is a vital step in unlocking the commercial potential of Uganda's oil reserves, which were discovered over the past two decades but remained largely untapped due to logistical hurdles. With the pipeline nearing completion, Uganda's oil production is poised to increase significantly, potentially altering the country's economic landscape. For Tanzania, the pipeline's terminus at the port of Tanga offers prospects for expanding the country's industrial base, including refining and petrochemical industries. The project complements Tanzania's ambitions to become a regional energy corridor, benefiting from both oil exports and transit fees. The government has indicated plans to develop ancillary infrastructure, such as storage facilities and transportation networks, further integrating energy supply chains. Critics caution that the project must carefully navigate the evolving global energy transition. With increasing commitments from many countries and corporations to reduce carbon emissions and shift toward renewable energy sources, the long-term viability of new oil infrastructure faces scrutiny. Balancing economic growth from oil revenues with environmental sustainability and climate goals remains a complex challenge for the EACOP consortium and East African governments. The pipeline's construction also intersects with broader regional security concerns. Ensuring the pipeline's protection from sabotage, theft, and other security threats is paramount, given its economic significance. Governments have invested in coordination efforts among security agencies to safeguard the infrastructure, which spans multiple jurisdictions and sensitive areas.
American Military News
12-05-2025
- Business
- American Military News
China claims discovery of 100 million-ton oilfield in South China Sea
This article was originally published by Radio Free Asia and is reprinted with permission. The China National Offshore Oil Corporation, or CNOOC, has discovered an oilfield in the South China Sea with proven reserves exceeding 100 million tons, Chinese state media said on Monday. The oilfield in the eastern South China Sea – the Huizhou 19-6 oilfield – was about 170 kilometers (106 miles) from the city of Shenzhen in southern China's Guangdong Province, the Xinhua News Agency reported. Test drilling of the oilfield, which has yielded a daily production of 413 barrels of crude oil and 68,000 cubic meters of natural gas, it added. RFA could not independently confirm the claims. In a press release, CNOOC said the discovery well was drilled and completed at a depth of 5,415 meters — what it characterized as 'ultra-deep layers' — facing high temperatures and pressures. Xinhua cited Peng Guangrong, a geologist at CNOOC's Shenzhen branch, as saying that 60% of the world's newly discovered oil and gas reserves have come from deep layers. The South China Sea is reputed to be rich in hydrocarbons but remains mostly underexplored because of territorial disputes. However, most discovered oil and gas reserves are in uncontested areas, according to the U.S. Energy Information Administration. China claims almost all of the South China Sea – through which US$3 trillion in commerce moves annually – overlapping with sovereignty claims by the Philippines, Malaysia, Taiwan, Vietnam and Brunei. In a case brought by the Philippines, an international arbitral tribunal in 2016 invalidated the basis of China's expansive territorial claims, but Beijing has ignored the ruling. The Chinese announcement on the oil field came days after Pentagon chief Pete Hegseth met his Filipino counterpart Gilberto Teodoro and Philippine President Ferdinand Marcos Jr on Friday in Manila, as part of Hegseth's Asia-Pacific tour that also included Guam and Japan. Hegseth reaffirmed Washington's 'ironclad' commitment to its defense treaty with the Philippines, vowing to deploy advanced military capabilities to bolster deterrence against threats, including Chinese 'aggression.' 'Deterrence is necessary around the world, but specifically in this region, in your country, considering the threats from the communist Chinese,' Hegseth said. The same day, the U.S., Japan, and the Philippines conducted joint naval drills near the disputed Scarborough Shoal in the South China Sea to enhance crisis preparedness. A Chinese military vessel reportedly monitored the exercises from a distance. At one point, a Chinese frigate attempted to approach the area where warships and aircraft from the three allied nations were carrying out maneuvers. However, a Philippine frigate issued a radio warning, prompting the Chinese vessel to keep its distance. For the first time since these joint naval exercises began last year, known as the Multilateral Maritime Cooperative Activity, a select group of Manila-based media was granted access to observe the drills at sea. China said it also conducted a military patrol in the South China Sea on Friday.
Yahoo
01-04-2025
- Business
- Yahoo
CNOOC announces significant oilfield discovery in South China Sea
China National Offshore Oil Corporation (CNOOC) has announced a substantial oilfield discovery, named Huizhou 19-6, in the eastern South China Sea at an average water depth of approximately 100m. The main oil-bearing formations are the Paleogene Enping Formation and Wenchang Formation, with the reservoirs in the two formations containing light crude. CNOOC chief geologist Xu Changgui said: 'In recent years, CNOOC Limited has strengthened the research on exploration theory and technology of the deep and ultra-deep plays in the South China Sea, and breakthroughs have been achieved. 'This discovery has confirmed the largest integrated clastic oilfield in the northern South China Sea in terms of original oil in place, breaking the traditional theoretical understanding, and demonstrating the enormous exploration potential of deep and ultra-deep plays in high-temperature and highly active basins offshore China.' The HZ19-6-3 discovery well was drilled and completed to a depth of 5,415m, revealing a total of 127m of oil and gas reservoirs. The well underwent testing, which demonstrated a daily production of 413 barrels of crude oil and 2.41 million cubic feet of natural gas. Continued exploration efforts have confirmed that the proved in-place volume of the Huizhou 19-6 oilfield exceeds 100 million tonnes (mt) of oil equivalent. CNOOC CEO Zhou Xinhuai said: 'CNOOC Limited has made numerous breakthroughs in oil and gas exploration in the eastern South China Sea. Oilfields with hundred-million-ton oil in-place have been discovered in this area for two consecutive years, making it a new driver of the offshore oil and gas production growth. 'The company will continue to strengthen its efforts in oil and gas exploration and development, to consolidate the resource base for increasing reserves and production, so as to bolster the high-quality development of the company.' Earlier this month, CNOOC commenced production at the Caofeidian 6-4 Oilfield Comprehensive Adjustment project and the second phase of the Wenchang 19-1 oilfield. The Caofeidian 6-4 project is located in the western part of the Bohai Sea in waters averaging 20m deep. "CNOOC announces significant oilfield discovery in South China Sea" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
The Guardian
01-04-2025
- Business
- The Guardian
People displaced by Uganda oil pipeline ‘received inadequate compensation'
People displaced from their homes alongside the site of an oil pipeline under construction in Uganda have complained of being inadequately rehoused or compensated. When completed, the East African crude oil pipeline (Eacop) will transport oil from the Tilenga and Kingfisher oilfields in western Uganda to the port of Tanga in Tanzania. The project – a partnership of the governments of both countries, the French oil company TotalEnergies, and China National Offshore Oil Corporation – has been touted by Uganda as transformative for the country's economy. However, from the start, it has faced criticism over its potential impact on important ecosystems and displaced people. About 13,000 people in Uganda and Tanzania have been displaced by the pipeline. Those obliged to move were given the option of resettlement or cash compensation. On Tuesday, Haki Defenders Foundation, a Kampala-based nonprofit, and the University of Sheffield released a report based on interviews with 100 people affected by the pipeline in Uganda, including those whose land had been compulsorily acquired. The researchers found that although the project included a resettlement plan in accordance with local laws and international best practices that emphasise restoration or improvement of livelihoods, many people reported unfair and inadequate compensation and a lack of transparency. Those who chose resettlement moved to designated areas such as the Kyakaboga resettlement camp. The researchers found people were given uniform houses, regardless of household sizes, meaning larger households are overcrowded. A typical resettlement house consists of one bedroom and a living room. The researchers also found that the resettlement sites lack basic infrastructure, with people having to travel long distances to access water, markets and medical facilities. Among those who chose cash compensation, the researchers found many had felt under pressure to accept terms they did not fully understand due to language barriers and a lack of access to legal advice. The report says that many people found the monetary compensation inadequate to secure new land or rebuild their livelihoods. Land was often undervalued, and compensation for residential structures was calculated based on government rates that did not account for regional variations or actual rebuilding costs. In September, the Uganda government took landowners who refused to move to court. Spokespeople for Eacop, TotalEnergies and the Ugandan energy ministry did not respond to requests for comment from the Guardian. Eacop has previously said it was 'committed to world-class environmental and social compliance' and was carrying out land acquisition 'in compliance with national laws and the applicable international standards'. Jonathan Silver, a professor of urban geography at the University of Sheffield and co-author of the study, said the research aimed to show how large-scale infrastructure projects affected lives. 'We cannot forget the lived experiences of those displaced,' he said. 'We should pay attention to the ways in which projects such as Eacop cause a spectrum of harm.' A total of 6.5bn barrels of crude oil were discovered in western Uganda in 2006. According to an analysis by the Climate Accountability Institute, transporting, refining and burning oil would produce 379m tonnes of global carbon emissions over the 25-year operation of the pipeline. The project, which is due to be completed next year, is expected to cost about $5bn (£3.87bn). The researchers also found that authorities in Uganda had suppressed dissent about the project by affected people, activists and community-based organisations. People have been denied permits to hold peaceful protests, and where the assemblies have taken place, security forces have violently dispersed them. As part of what activists call a government crackdown on protesters against Eacop, 11 environmental activists were charged with 'common nuisance' and remanded after a rally in Kampala in February. Dr Tom Ogwang, a senior lecturer in political economy of natural resource at Mbarara University of Science and Technology in Uganda, said it was important for concerns about the pipeline to be addressed. 'If people feel they have been given a raw deal, then their hearts and minds will never be for that project,' said Ogwang, who has researched Eacop's impacts.
