The company said the successful production of the Lufeng oilfields has opened a new way for the large-scale development of low-grade oil & gas fields such as deep and low permeability offshore
Beijing, November 24 - Neftegaz.RU.
Chinese oil & gas giant CNOOC
Limited has started production from the Lufeng oil fields regional development project located in the South China Sea with an average water depth of about 140 to 330 m.
The company owns 100 % interest in the Lufeng oil fields regional development project.
The main production facilities include 2 drilling production platforms and one subsea production system.
The Lufeng oil fields are located offshore China
and mainly include:
- Lufeng 14-4
Lufeng 22-1 oil field
The project is expected to hit peak production of about 46,000 barrels of crude oil per day in 2023.
CNOOC plans to put into production a total of 35 development wells, comprising 26 production wells and nine water injection wells.
Xia Qinglong, president of the company, commented:
- The project adopts an integrated model of exploration, development and production, which maximized the asset value of oil fields region, meanwhile the safe commencement of production also safeguarded energy supply throughout the Greater Bay Area
It is reported that the eastern oilfield in the South China Sea, where the Lufeng oilfield group regional development project is located, is China’s 2nd
largest offshore energy production base
, with a cumulative increase of 3.25 million tons of crude oil in the past 3 years, accounting for about 1
of the national increase in crude oil
in the same period.
In the 3rd
quarter of 2021, CNOOC produced 144.1 million barrels
of oil equivalent, representing an increase of 9.9% year-over-year.