Latest news with #Wenchang19-1
Yahoo
2 days 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.
Yahoo
4 days 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
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.
Yahoo
17-03-2025
- Business
- Yahoo
CNOOC starts production at two Chinese oilfield projects
China National Offshore Oil Corporation (CNOOC) has commenced production at the Caofeidian 6-4 Oilfield Comprehensive Adjustment project and the Wenchang 19-1 oilfield phase two project. Located in the western part of the Bohai Sea, the Caofeidian 6-4 project is situated in waters averaging 20m deep. It features a new production wellhead platform that utilises existing facilities nearby for its development. The project aims to bring 25 development wells into production, including 22 for oil production and three for water injection. By 2026, it is expected to reach peak production of around 11,000 barrels of oil equivalent per day (boepd), with the oil classified as light crude. The Wenchang 19-1 oilfield phase two project in the western part of the Pearl River Mouth Basin operates at an average water depth of around 125m. The project is set to activate 13 development wells and hit peak production of approximately 12,000boepd by 2027, with medium crude oil properties. CNOOC fully owns and operates the Caofeidian 6-4 and Wenchang 19-1 phase two projects. Both have incorporated intelligent oil and gas field design concepts, enhancing hydrocarbon development efficiency through intelligent technologies applied in crude oil production, equipment maintenance and safety management. The Caofeidian 6-4 project includes an environmentally conscious feature where associated gas is reinjected into the reservoir, reducing CO₂ emissions by an estimated 13,000 tonnes per annum (tpa). Similarly, the Wenchang 19-1 project employs a megawatt-level, high-temperature flue gas ORC power generation unit that is expected to produce up to 24 million kilowatt-hours of electricity annually, which could decrease CO₂ emissions by roughly 23,000tpa. Last month, CNOOC began production at the Luda 5-2 North oilfield phase two project. CNOOC is said to be the largest producer of offshore crude oil and natural gas in China. The company is mainly engaged in the exploration, development, production and sale of crude oil and natural gas. "CNOOC starts production at two Chinese oilfield projects" 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.
