Latest news with #Huizhou19-6
Yahoo
14-04-2025
- Business
- Yahoo
CNOOC's Wenchang 9-7 project starts production in Pearl River Mouth Basin
CNOOC has commenced production at the Wenchang 9-7 Oilfield Development Project in the western Pearl River Mouth Basin, South China Sea. The project, featuring a new drilling and production platform, aims to enhance oil recovery through innovative technologies including miscible gas flooding, while maintaining a focus on efficient resource utilisation and sustainability. A total of 25 development wells, comprising 18 production wells and seven gas injection wells, are due to be commissioned as part of the Wenchang 9-7 project, which is located at an average water depth of approximately 120m. The project is expected to reach a plateau production of around 12,000 barrels of oil equivalent per day by 2027, with the oil property being light crude. CNOOC emphasises green development in its offshore oil and gas projects. The Wenchang 9-7 project is the first offshore low permeability oilfield to use miscible gas flooding, significantly enhancing oil recovery. Additionally, the project efficiently recovers and utilises associated gas, creating an interconnected gas network to achieve zero flaring, the company said. The Wenchang 9-7 oilfield is equipped with a 5MW offshore high-temperature flue gas ORC (Organic Rankine Cycle) power generation unit, expected to generate up to 40 million kilowatt-hours of electricity annually. This initiative is expected to reduce carbon dioxide emissions by approximately 33,000 tonnes per year. CNOOC holds a 100% interest in the Wenchang 9-7 project and serves as the operator. The company also recently announced a significant oilfield discovery, Huizhou 19-6, in the eastern South China Sea. This discovery, at an average water depth of 100m, revealed a total of 127m of oil and gas reservoirs. The HZ19-6-3 discovery well, drilled to a depth of 5,415m, demonstrated a daily production of 413 barrels of crude oil and 2.41 million cubic feet of natural gas. The main oil-bearing formations are the Paleogene Enping Formation and Wenchang Formation, both containing light crude. "CNOOC's Wenchang 9-7 project starts production in Pearl River Mouth Basin" 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
Yahoo
14-04-2025
- Business
- Yahoo
CNOOC's Wenchang 9-7 project starts production in Pearl River Mouth Basin
CNOOC has commenced production at the Wenchang 9-7 Oilfield Development Project in the western Pearl River Mouth Basin, South China Sea. The project, featuring a new drilling and production platform, aims to enhance oil recovery through innovative technologies including miscible gas flooding, while maintaining a focus on efficient resource utilisation and sustainability. A total of 25 development wells, comprising 18 production wells and seven gas injection wells, are due to be commissioned as part of the Wenchang 9-7 project, which is located at an average water depth of approximately 120m. The project is expected to reach a plateau production of around 12,000 barrels of oil equivalent per day by 2027, with the oil property being light crude. CNOOC emphasises green development in its offshore oil and gas projects. The Wenchang 9-7 project is the first offshore low permeability oilfield to use miscible gas flooding, significantly enhancing oil recovery. Additionally, the project efficiently recovers and utilises associated gas, creating an interconnected gas network to achieve zero flaring, the company said. The Wenchang 9-7 oilfield is equipped with a 5MW offshore high-temperature flue gas ORC (Organic Rankine Cycle) power generation unit, expected to generate up to 40 million kilowatt-hours of electricity annually. This initiative is expected to reduce carbon dioxide emissions by approximately 33,000 tonnes per year. CNOOC holds a 100% interest in the Wenchang 9-7 project and serves as the operator. The company also recently announced a significant oilfield discovery, Huizhou 19-6, in the eastern South China Sea. This discovery, at an average water depth of 100m, revealed a total of 127m of oil and gas reservoirs. The HZ19-6-3 discovery well, drilled to a depth of 5,415m, demonstrated a daily production of 413 barrels of crude oil and 2.41 million cubic feet of natural gas. The main oil-bearing formations are the Paleogene Enping Formation and Wenchang Formation, both containing light crude. "CNOOC's Wenchang 9-7 project starts production in Pearl River Mouth Basin" 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
Yahoo
04-04-2025
- Business
- Yahoo
INEOS Energy finalises acquisition of CNOOC's US Gulf assets
INEOS Energy has completed the acquisition of China National Offshore Oil Corporation's (CNOOC) US Gulf business from the latter's subsidiary, CNOOC Energy Holdings USA. The move enhances INEOS Energy's global production to more than 90,000 barrels of oil equivalent per day (boepd). This acquisition marks INEOS Energy's third major investment in the US in three years, following a deal to purchase 1.4 million tonnes per annum (mtpa) of liquefied natural gas from Sempra and the acquisition of Chesapeake Energy's South Texas oil and gas assets in December 2022 and May 2023, respectively. The recent acquisition includes a portfolio of non-operated assets centred around two deep-water early production sites, Appomattox and Stampede, in the US Gulf. These assets will complement INEOS Energy's existing US onshore portfolio and strategic partnerships in key US energy projects. The business now transitions into INEOS Energy, further solidifying its presence in the region. CNOOC announced the divestiture of its US assets in December last year, aligning with its strategy to optimise its global asset portfolio. CNOOC has been exploring the sale of its interests in US oil and gas fields since 2022. INEOS Energy CEO David Bucknall said: "The US is a very attractive place for INEOS Energy to invest. This is our third deal in three years following the 1.4mtpa LNG deal with Sempra and the acquisition of Chesapeake Energy's oil and gas assets in South Texas. Total capital spend on energy assets in the US now exceeds $3bn, providing a strong platform for future growth." Meanwhile, CNOOC recently announced a significant oilfield discovery, named Huizhou 19-6, in the eastern South China Sea. The discovery is located at an average water depth of approximately 100m, with oil-bearing formations in the Paleogene Enping and Wenchang Formations. The HZ19-6-3 discovery well reached a depth of 5,415m, revealing 127m of oil and gas reservoirs. "INEOS Energy finalises acquisition of CNOOC's US Gulf assets" 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
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.
See - Sada Elbalad
31-03-2025
- Business
- See - Sada Elbalad
China Discovers Major Offshore Oil Field
Israa Farhan China has announced the discovery of a large offshore oil field in the eastern part of the South China Sea, with confirmed reserves exceeding 100 million tons. The announcement was made by the China National Offshore Oil Corporation on Monday, marking a significant breakthrough in the country's deep-sea oil exploration efforts. The newly discovered oil field, named Huizhou 19-6, is China's first large-scale integrated clastic reservoir found in deep and ultra-deep layers. Located approximately 170 kilometers off the coast of Shenzhen in Guangdong Province, the site has an average water depth of 100 meters. Test drilling at the site has shown promising production potential, yielding 413 barrels of crude oil and 68,000 cubic meters of natural gas per day. The discovery is expected to contribute significantly to China's offshore energy resources. Extracting oil and gas from deep and ultra-deep layers presents several challenges, including extreme temperatures, high pressure, and complex geological conditions. However, advancements in technology and exploration techniques have enabled China to make progress in tapping into these difficult-to-reach reserves. With this latest discovery, China strengthens its position in offshore oil and gas production, potentially reducing its reliance on energy imports and boosting domestic energy security. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Israeli PM Diagnosed with Stage 3 Prostate Cancer Lifestyle Maguy Farah Reveals 2025 Expectations for Pisces News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers
