Chinese oil & gas giant on a roll as another development project comes online

Chinese state-owned oil and gas giant China National Offshore Oil Corporation (CNOOC) has begun production at another oilfield development project in the South China Sea, off the coast of China.

CNOOC has brought on stream its 100% owned Huizhou 26-6 oilfield project, which is said to be the firm’s first deep buried hill reservoir development in the South China Sea. According to the operator, 19 development wells will be commissioned, including two oil production wells and 17 gas production wells.

The Chinese player underlined: “The first intelligent offshore drilling production platform in China was built for this project, to realize efficient development of the offshore oil and gas resources. The new project will contribute to the economic and social development of the Guangdong–Hong Kong–Macao Greater Bay Area.”

Located in the Pearl River Mouth Basin, the project lies at an average water depth of approximately 110 meters, and the main production facilities include a new intelligent drilling production platform and the adaptively modified FPSO Nan Hai Fen Jin.

Based on CNOOC’s expectations, the project, whose main products entail light crude oil and natural gas, is slated to achieve a peak production of approximately 20,600 barrels of oil equivalent per day in 2027.

The latest project has been put in operation mode less than two months after the Chinese giant started production at an oilfield development project in Bohai Bay.

CNOOC also recently began natural gas production from a project in the South China Sea, where the total proved gas-in-place reserves surpassed one trillion cubic meters.