South China Sea Project Starts Production
CNOOC Limited has confirmed that the Weizhou 12-2 oil field phase II project, located in the Beibu Gulf in the South China Sea, has commenced production.
The project is expected to reach its designed peak output of approximately 11,800 barrels of crude oil per day in 2018. Currently, seven wells are producing approximately 6,400 bopd.
Weizhou 12-2 phase II fully utilized the existing facilities of the Weizhou 12-2 oil field, in addition to building an extra wellhead platform.
CNOOC revealed last month that the company achieved a total net production of 116.2 million barrels of oil equivalent in the third quarter, representing a decrease of 1.3 percent year-on-year.
Production from offshore China decreased 2.4 percent YoY to 73.8 million barrels of oil equivalent, mainly due to the production decline of producing fields.
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