CNOOC Limited Begins Production at Liuhua Oilfield
CNOOC Limited (SEHK: 00883, SSE: 600938) is thrilled to share that production has officially started at its Liuhua 11-1/4-1 Oilfield Secondary Development Project. This momentous achievement highlights the company’s dedication to enhancing energy production through creative solutions.
Details About the Liuhua Oilfield Project
Located in the eastern part of the South China Sea, this project includes two essential oilfields: Liuhua 11-1 and Liuhua 4-1. The area is characterized by an average water depth of about 305 meters. For this development, CNOOC has implemented a cutting-edge deepwater jacket platform called "Haiji-2" along with Asia's first cylindrical FPSO, the "Haikui-1". These facilities play a crucial role in CNOOC's mission to enhance production, with plans for 32 development wells to be brought online.
Expected Production Capacity
This ambitious project is projected to achieve peak production of around 17,900 barrels of oil equivalent per day by 2026. The oilfield mainly consists of heavy crude, which brings its own set of challenges and opportunities during extraction.
Innovative Technology in Development
Mr. Zhou Xinhuai, CEO and President of CNOOC Limited, expressed his pride in the project, noting that it is the first in Asia to use a 'Deepwater Jacket Platform + Cylindrical FPSO' design. This innovation enables CNOOC to overcome various technical challenges, simplifying production procedures while significantly reducing construction and operational expenses. This initiative represents a proactive approach, establishing reliable methods for efficiently tapping into similar deepwater resources.
Company's Focus on Efficiency
CNOOC Limited maintains full operational control of the Liuhua project, underscoring its commitment to sustainability and efficiency within the energy sector. The company’s focus on innovative technological solutions emphasizes its goal to revitalize deepwater oilfields that demonstrate substantial original reserves.
Future Outlook
As the company moves forward with this development, it continues to work diligently to ensure that operations align with production goals and safety standards. CNOOC’s achievement in this project will help pave the way for future innovations 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 flagship project by CNOOC Limited located in the South China Sea, featuring advanced infrastructure such as a deepwater jacket platform.
When is peak production expected to occur?
Peak production at the Liuhua Oilfield is expected to reach about 17,900 barrels of oil equivalent per day by 2026.
What technologies are utilized in this project?
The project employs an advanced deepwater jacket platform along with a cylindrical FPSO, showcasing CNOOC's innovative approach to oilfield development.
Who is managing the Liuhua Oilfield project?
CNOOC Limited owns 100% of the project and serves as the sole operator, ensuring effective management and operation.
What type of crude is extracted at the Liuhua Oilfield?
The Liuhua Oilfield primarily produces heavy crude oil, which requires specific techniques for efficient extraction and processing.
