First Production Commences at CNOOC's Enping 24-2 Oil Field Offshore China

CNOOC commences first production at Enping 24-2 oil field in the Pearl River Mouth Basin offshore China.

China's largest offshore crude oil and natural gas producer CNOOC Limited announced Monday that it has commenced first production at the company-operated Enping 24-2 oil field in the Pearl River Mouth Basin, South China Sea offshore China.

CNOOC indicated that the main production facilities at the Enping 24-2 oil field, located at average water depth of around 282-315 feet (86-96 meters), include one drilling and production platform, one floating production storage and offloading unit (FPSO) and 17 producing wells, the firm said in a press statement Monday.

Two wells are currently producing approximately 8,000 barrels of crude oil per day and the Enping 24-2 development is expected to reach peak production of approximately 40,000 barrels per day in 2017.

In August, CNOOC – which holds 100 percent interest in the Enping 24-2 oil field – has indicated that there will be no change to the firm's planned 2014 production target of 422-435 million barrels of oil equivalent.

In this regard, CNOOC began producing gas from the Lingshui 36-1 field offshore Zhejiang province in July, while first oil commenced from the Panyu 10-2/5/8 development in South China Sea's Pearl River Mouth Basin and the Wenchang 13-6 field in Western South China Sea in late July and late August, respectively.

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