CNOOC's new oilfield development project starts production

CNOOC Limited announced on Wednesday that Wushi 17-2 oilfields development project has commenced production.

The oil property is light crude, said the company, who holds 80 percent interest in this project and is the operator.

The project is located in the Beibu Gulf, with an average water depth of approximately 28 meters. The main production facilities include a new wellhead platform and an oil and gas processing terminal.

A total of 43 development wells are planned to be commissioned, including 28 production wells, 14 water-injection wells, and one appraisal and water source well. It is expected to achieve a peak production of approximately 9,900 barrels of oil equivalent per day in 2026.