Roc Oil Posts Final Investment Decision on Beibu Gulf Project
The partners on China’s Beibu Gulf project have made their final investment decision for two oil fields, WZ6-12 and WZ12-8, in Block 22/12 in the Beibu Gulf, South China Sea. The project investment and Overall Development Plan have now been submitted to the relevant Chinese Government Authority for formal approval, stated Roc Oil.
As a result of the FID approval, 2P reserves of 24 MMBBL will be booked for the project. According to Horizon Oil, a partner on the project, early development preparation activities, such as preliminary engineering design work and bidding for long-lead equipment are underway.
Field development plans consist of utilizing existing CNOOC-operated facilities, including: water disposal wells; oil and gas export facilities; and the Weizhou Island oil terminal. A new CNOOC-operated integrated processing platform will host production from two unmanned platforms on the WZ 6-12 and WZ 12-8 West fields, and support production from other fields. Eleven development wells are scheduled for drilling during 2012 and 2013, with first production anticipated before year-end 2012.SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
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