Chinese oil and gas giant CNOOC Limited has kicked off production from an oilfields Phase II development project in the South China Sea, offshore China. This is the first project the company has brought online in 2024.
While announcing the start of production from the Lufeng oilfields Phase II development project in the eastern South China Sea, CNOOC explained that the project was situated in an average water depth of approximately 136 meters.
The Chinese player’s latest project consists of Lufeng 8-1 oilfield , Lufeng 9-2 oilfield , and Lufeng 14-8 oilfield . According to the company, one new drilling platform has been built and 14 development wells are planned to be put into production, including 13 production wells and 1 water-injection well.
CNOOC Limited holds 100% interest in this project and acts as the operator. A peak production of approximately 22,600 barrels of crude oil per day is expected to be achieved in 2025.
CNOOC brought several new projects online in 2023. In November 2023, the company began production from a condensate gas field Phase I development project in the Bohai Sea offshore China.
A few weeks before this, the Chinese giant started production from an oilfield development in the Bohai Sea. Prior to this, the company began production from another oilfield development albeit in the South China Sea.
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