CNOOC Commences Oil Production at Panyu 10-2/5/8 Project in South China Sea

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CNOOC commences production at the Panyu 10-2/5/8 oil project in the Pearl River Mouth Basin in South China Sea.

China's CNOOC Limited commenced production at Panyu 10-2/5/8 oil development, located in the Pearl River Mouth Basin in South China Sea, the company reported Thursday.

The project, which lies in average water depth of approximately 328 feet (100 meters), has 3 oilfields -- Panyu 10-2, Panyu 10-5 and Panyu 10-8 -- and will share some facilities at the Panyu 4-2 oilfield. The main production facilities for the Panyu 10-2/5/8 development, in which CNOOC has 100 percent interest, include a wellhead platform and 9 producing wells, 4 of which are currently producing around 9,000 barrels per day.

"The project is expected to hit its peak production of approximately 13,000 barrels per day in 2015," CNOOC said in a press release.

Earlier this week, gas production commenced at Lishui 36-1 field offshore Zhejiang province, China. CNOOC, the field operator, has a 51 percent interest in the project, while its partners, Primeline Energy China Limited and Primeline Petroleum Corporation, hold the remaining 36.75 percent and 12.25 percent working interest, respectively.



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