CNOOC To Begin Production at Three Fields This Year

CNOOC with its development partners intend to start production at three oilfields this year. The combined output would be approximately 140,000 bpd. Two of the fields are located offshore Northeast China in Bohai Bay and the third is in the South China Sea.

Production will be mostly of low sulphur and rich in fuel oil. PL 19-3 and QHD 32-6, both in the Bohai Bay, are scheduled to flow during the latter part of 2002. PL 19-3, operated by Phillips and 51 percent owned by CNOOC, is expected to pump 35,000-40,000 bpd. QHD 32-6, operated by CNOOC with 49 percent jointly owned by ChevronTexaco Corp and BP, is expected to add nearly 60,000 bpd to China's production when four new platforms go into operation in the third quarter. The field pumped first oil last October and is operating at about 29,000 bpd. The third field, WC 13-1/13-2 in the western part of the South China Sea, is due on stream in the first half 2002 and will produce about 40,000 bpd of light sweet crude. CNOOC is operator of the field with a 60 percent stake and is partnered by Canada's Husky Energy Inc.