CNOOC's Latest Penglai Phase Starts Production



CNOOC's Latest Penglai Phase Starts Production
A new wellhead platform has been built, with 47 wells planned in total.

CNOOC Ltd.’s Penglai 19-3 oilfield area 4 adjustment/Penglai 19-9 oilfield phase II project has commenced production, according to a recent statement from the company. The Penglai 19-3/19-9 oilfields are in Bohai with an average water depth of approximately 28 meters.

A new wellhead platform has been built, with 47 wells planned in total, including 30 production wells, 16 water injection wells and 1 development and appraisal well. The new wellhead platform will utilize the existing processing facilities of Penglai 19-3 oilfield.

The project is expected to reach its peak production of approximately 15,681 barrels of crude oil per day in 2022, the company said.

CNOOC holds 51% working interest in Penglai 19-3 oilfield area 4 adjustment/Penglai 19-9 oilfield phase II project and is the operator. ConocoPhillips China holds the remaining 49% working interest.

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