CNOOC has announced that the Panyu 11-5 oilfield in the South China Sea has started production.
The Panyu 11-5 oilfield is located in the Pearl River Mouth Basin of the South China Sea with an average water depth of approximately 110 meters. In addition to fully utilizing the existing facilities of Panyu 5-1 oilfield, the Panyu 11-5 oilfield also drilled 3 horizontal wells, CNOOC said on Monday.
According to the company, there is currently 1 well on production, producing a total of approximately 3,270 barrels of crude oil per day. The oilfield is expected to reach its ODP designed peak production of approximately 3,900 barrels of crude oil per day in 2016.
The Panyu 11-5 is an independent oilfield in which the company holds 100% interest and acts as the operator.