Chinese energy heavyweight flips the production switch on at oil project

Chinese state-owned oil and gas giant China National Offshore Oil Corporation (CNOOC) has put an oilfield development project in production mode.

The start of production at the Enping 21-4 oilfield development project was enabled by two extra extended-reach wells drilled from the existing production platform. With the well depth exceeding 9,500 meters, CNOOC underlines that the application of the development mode has set an example for similar projects.

Located in the eastern South China Sea, with an average water depth of approximately 89 meters, the project will be developed by leveraging the existing production facilities. A peak production of around 5,300 barrels of oil equivalent per day is anticipated to be reached in 2025.

CNNOC, which endeavors to improve project efficiency through technological and managerial innovation, holds 100% interest in this project and acts as the operator. The oil property is light crude. While the Chinese giant is determined to propel its energy transition journey forward, it has also been engaged in multiple oil and gas projects over the past few months.

In May 2024, the firm fired up a gas project in the Bohai Sea off the coast of China while March 2024 brought a significant oil discovery in the northcentral waters of the Bohai Sea, which followed the one the firm disclosed in the eastern South China Sea.

The activities undertaken to bring forth more hydrocarbons are aligned with CNOOC’s business strategy and development plan for 2024, which sets out plans to boost oil and gas production, bolster hydrocarbon reserves, and ramp up natural gas exploration activities.