CNOOC Achieves First Oil in Bohai Bay Fields

CNOOC Limited said that Caofeidian (CFD) 11-6/12-1S fields in Bohai Bay have come onstream successfully on schedule.

The unitized CFD 11-6/12-1S fields are located in 04/36 and 05/36 blocks in Bohai Bay, with average water depth of 22-30 meters. The development facilities of CFD 11-6/12-1S fields include three wellhead platforms, two of which are unmanned satellite platforms.

To optimize the operations efficiency, the fields share part of production facilities with the fields CFD 11-1/11-2. The crude oil produced from the fields will be transported through a 13-kilometer sub-sea pipeline to the Hai Yang Shi You 112 floating production, storage and offloading vessel (FPSO).

By the end of October, 10 wells are expected to be brought online with total production of 15,000 barrels of oil per day. Peak production of the fields is expected to reach approximately 6,000,000 barrels of oil per year.

Mr. Liu Jian, Executive Vice President of the Company said, "We congratulate the successful commencement of CFD 11-6/12-1S fields. It's resulted from the joint efforts of CNOOC Ltd. and our partners. Startup of new fields will continue to consolidate our production growth in the short and long term."

CNOOC Ltd. holds 51% interests of the fields. Anadarko holds 29.18% interests and acts as the Operator. Newfield Exploration Company and a subsidiary of Ultra Petroleum, own the remaining 12% and 7.82% respectively.

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