CNOOC Limited Launches Liuhua 11-1/4-1 Oilfield Operations
CNOOC Limited Launches Production at Liuhua Oilfield
CNOOC Limited (SEHK: 00883, SSE: 600938) is excited to announce the commencement of production at its Liuhua 11-1/4-1 Oilfield Secondary Development Project. This significant milestone reflects the company’s commitment to nurturing energy production through innovative solutions.
Overview of the Liuhua Oilfield Project
Situated in the eastern region of the South China Sea, the project encompasses two key oilfields: Liuhua 11-1 and Liuhua 4-1. Notably, the area features an average water depth of around 305 meters. As part of this development, CNOOC has deployed a state-of-the-art deepwater jacket platform named "Haiji-2" alongside Asia's pioneering cylindrical FPSO, the "Haikui-1". These facilities are central to CNOOC's strategy to maximize output with 32 development wells scheduled for commissioning.
Projected Production Capacity
The ambitious project is anticipated to reach peak production of approximately 17,900 barrels of oil equivalent per day by 2026. This oilfield primarily consists of heavy crude, which presents both challenges and opportunities in extraction efforts.
Technological Innovations in Development
Mr. Zhou Xinhuai, CEO and President of CNOOC Limited, expressed pride in the project, highlighting it as the first in Asia to utilize a 'Deepwater Jacket Platform + Cylindrical FPSO' design. This advancement allows CNOOC to tackle various technological hurdles, streamlining production processes and significantly lowering construction and operational costs. This project exemplifies a forward-thinking approach, providing reliable methodologies for efficiently developing similar deepwater resources.
Company Commitment to Efficiency
CNOOC Limited retains full operational ownership of the Liuhua project, demonstrating their steady commitment to sustainability and efficiency in the energy sector. The company’s emphasis on innovative technical solutions underlines its aim to revitalize deepwater oilfields that possess substantial original reserves.
Looking Ahead
As the company progresses with this development, it continues to work meticulously to ensure that operations meet both production targets and safety regulations. CNOOC’s success in this endeavor will pave the way for future advancements in deepwater oil exploration and production.
Frequently Asked Questions
What is the Liuhua 11-1/4-1 Oilfield?
The Liuhua 11-1/4-1 Oilfield is a primary project by CNOOC Limited located in the South China Sea, featuring advanced facilities like the deepwater jacket platform.
When is the peak production expected to be reached?
Peak production at the Liuhua Oilfield is projected to reach approximately 17,900 barrels of oil equivalent per day by 2026.
What technologies are employed in this project?
The project employs a cutting-edge deepwater jacket platform and a cylindrical FPSO, showcasing CNOOC's innovative approach to oilfield development.
Who is overseeing the Liuhua Oilfield project?
CNOOC Limited holds 100% interest in the project and is the sole operator, ensuring effective management and operation.
What type of crude is produced at the Liuhua Oilfield?
The Liuhua Oilfield primarily produces heavy crude oil, which requires specialized techniques for efficient extraction and processing.
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