CNOOC Limited announced Monday that the Panyu 11-5 oilfield, located in the Pearl River Mouth Basin of the South China Sea, has commenced production.
In addition to utilizing the existing facilities of Panyu 5-1 oilfield, Panyu 11-5 also saw the drilling of three additional horizontal wells. There is currently one well on production, with an output total of approximately 3,270 barrels of crude oil per day. The oilfield is expected to reach a peak production level of approximately 3,900 bopd later this year.
Panyu 11-5 is an independent oilfield in which CNOOC holds a 100 percent operated interest.
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