CNOOC Limited brings on-stream two new projects

CNOOC Limited announced on Monday that the Caofeidian 6-4 oilfield comprehensive adjustment project and the Wenchang 19-1 oilfield phase II project have commenced production.

The Caofeidian project is located in the western part of the Bohai Sea, with an average water depth of approximately 20 meters. The main production facility is a new production wellhead platform, which leverages the adjacent existing facilities for development.

The project is expected to achieve peak production of approximately 11,000 barrels of oil equivalent per day by 2026. The oil property is light crude.

The Wenchang project, located in the western part of the Pearl River Mouth Basin with an average water depth of approximately 125 meters, is expected to achieve a peak production of approximately 12,000 barrels of oil equivalent per day by 2027. The oil property is medium crude, the company said.

CNOOC Limited has applied intelligent technologies in the two projects to enhance the efficiency. The associated gas of Caofeidian 6-4 oilfield comprehensive adjustment project, for example, is reinjected back into the reservoir with gas injection compressors, which will reduce carbon dioxide emissions by approximately 13,000 tons per year.

CNOOC Limited holds 100 percent stake in both Caofeidian 6-4 oilfield comprehensive adjustment project and Wenchang 19-1 oilfield phase II project, and is the operator, it added.