CNOOC Limited Celebrates Start of Jinzhou 23-2 Project
CNOOC Limited Celebrates Start of Jinzhou 23-2 Project
CNOOC Limited is excited to share that the Jinzhou 23-2 Oilfield Development Project has officially commenced production, marking a significant milestone for the company.
Project Overview
Located in the northern Bohai Sea, where the water depth averages around 13 meters, this project boasts impressive production facilities. With the installation of two new central processing platforms, the plan incorporates a total of 67 development wells, which includes 65 production wells and 2 water source wells. By 2027, the Jinzhou 23-2 project is expected to reach a peak production capacity of approximately 17,000 barrels of oil equivalent per day. This venture focuses on heavy crude oil extraction.
Innovative Extraction Techniques
This development is notable as it represents the first multi-layer heavy oil thermal recovery project offshore, employing an advanced method of steam stimulation combined with chemical auxiliary steam flooding. This innovative approach is designed to lower the viscosity of crude oil, significantly enhancing the recovery of reserves found in offshore heavy oil fields.
Impact on Regional Energy Supply
One of the primary benefits of the Jinzhou 23-2 Oilfield is its capacity to strengthen energy supply chains to major regions, including areas like Beijing, Tianjin, and Hebei. This influx of production contributes to meeting the energy demands of these bustling populations.
Company Commitment
CNOOC Limited holds a full 100% interest in the Jinzhou 23-2 project and acts as the operator, underlining its commitment to expanding its production capabilities and enhancing its operational footprint in offshore oil extraction.
About CNOOC Limited
CNOOC Limited is dedicated to becoming a leader in the global energy sector through sustainable practices and innovative solutions. As they navigate the competitive landscape of oil and natural gas, the company remains focused on enhancing energy efficiency while meeting the dynamic needs of consumers.
Frequently Asked Questions
What is the Jinzhou 23-2 Oilfield Development Project?
The Jinzhou 23-2 Oilfield Development Project is a significant venture by CNOOC Limited aimed at boosting oil production from the northern Bohai Sea.
What are the expected production outcomes?
The project is anticipated to achieve peak production of approximately 17,000 barrels of oil equivalent per day by 2027.
What extraction methods are used in this project?
This project utilizes a combination of steam stimulation and chemical auxiliary steam flooding to improve oil recovery.
How does this project affect local energy supply?
It will enhance energy supply to major regions such as Beijing, Tianjin, and Hebei, supporting their growing energy needs.
Who operates the Jinzhou 23-2 project?
CNOOC Limited operates the project and holds a 100% interest in its development.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.