CNOOC in new project start-up off China

CNOOC Limited has started production from the Liuhua 21-2 oilfield, located offshore China, ahead of schedule.

Liuhua 21-2 oilfield is located in the eastern South China Sea, with a water depth of about 437 meters. In addition to fully utilizing the existing processing facilities, the project has also built a set of underwater production systems, with 8 development wells planned in total, CNOOC said on Monday.

The project is expected to reach its peak production of approximately 15,070 barrels of crude oil per day in 2023. Meanwhile, the oilfield recovers associated gas through the light hydrocarbon recovery system to reduce methane emissions.

CNOOC Limited holds 100 per cent interest in Liuhua 21-2 oilfield and acts as the operator.

As of now, the Liuhua 16-2 oilfield group, which is China’s first independent deepwater oilfield group, including Liuhua 16-2, Liuhua 20-2 and Liuhua 21-2, was fully established. CNOOC started its first oil production from the Liuhua 16-2 and 20-1 joint development project in the South China Sea back in September 2020.

Less than two weeks ago, CNOOC also started production from its Luda 29-1 oilfield, located in Liaodong Bay of Bohai Sea, with a water depth of about 32 meters.

The project is expected to reach its peak production of approximately 4,440 barrels of crude oil per day in 2021. CNOOC Limited holds 100 per cent interest in Luda 29-1 oilfield and acts as the operator.