posted in:

Two new projects of CNOOC Limited started production successfully

Monday, Dec 31, 2012

HONG KONG, Dec. 28, 2012 /PRNewswire/ -- CNOOC Limited (the "Company", NYSE: CEO, SEHK: 00883) today announced that Panyu 4-2/5-1 oil field adjustment project and Liuhua 4-1 oil field located in the Pearl River Mouth Basin of South China Sea, successfully commenced production.

Panyu 4-2/5-1 oil field has an average water depth of about 100 meters. The adjustment project was designed to share the existing facilities to develop Panyu 4-2/5-1 oil field more effectively. The adjustment project was expected to hit its peak production in 2014.

The Company holds 75.5% interest and acts as the Operator of Panyu 4-2/5-1 oil field. Our partner Burlington Resources China holds the remaining 24.5% interest.

Liuhua 4-1 oil field has an average water depth of about 268 meters. In view of the features of the oil field, the Company built a new subsea production system while sharing the surrounding facilities for overall development. This project is expected to hit its peak production in 2013.

Liuhua 4-1 is an independent oil field in which the Company holds 100% interest and acts as the Operator.

SOURCE CNOOC Limited

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Project News

Advertisers