Chinese state-owned oil and gas giant China National Offshore Oil Corporation (CNOOC) has kicked off production operations at an oilfield development project off the coast of China.
CNOOC has brought online the Wushi 17-2 oilfields development project in Beibu Gulf shortly after the WS16-5-4 appraisal well was drilled and completed at a depth of 4,185 meters, encountering a total of 65 meters of oil pay zones.
With an average water depth of approximately 28 meters at the site, the main production facilities for the Wushi 17-2 project entail a new wellhead platform and an oil and gas processing terminal.
The Chinese player outlines that 43 development wells are expected to be commissioned, including 28 production wells, 14 water-injection wells, and one appraisal and water source well.
This oilfield project is anticipated to achieve a peak production of approximately 9,900 barrels of oil equivalent per day in 2026. The oil property is light crude. CNOOC holds an 80% interest in this project and acts as its operator.
The company recently confirmed approval of the proved gas in place of over 100 billion cubic meters at a hydrocarbon discovery, said to be the first large-size ultra-shallow gas field in ultra-deepwater in the world, which adds the final touch to the trillion-cubic-meter gas region in the South China Sea.
The Chinese giant’s first ultra-deep well in Bohai Bay is said to have outperformed its set oil and gas target, while the firm disclosed another hydrocarbon discovery . The ramp-up in offshore drilling is aligned with the firm’s business strategy and development plan for 2024.