CNOOC Limited Launches Production for Buzios7 Project
CNOOC Limited Launches Production for Buzios7 Project
CNOOC Limited is excited to announce that the Buzios7 Project has officially commenced production. This marks a significant milestone for the Company as it expands its operations within one of the largest deep-water pre-salt oilfields globally.
Overview of the Buzios Oilfield
Situated in the Santos Basin, the Buzios oilfield represents a remarkable feat in offshore drilling, located at a challenging water depth ranging from 1,900 to 2,200 meters. The Buzios7 Project is the sixth initiative to be launched within this prolific oilfield and highlights the Company's commitment to boosting production capabilities.
Production Capacity and Infrastructure
The Buzios7 development comprises 15 wells, including 7 dedicated oil producers, 6 water and gas injectors, 1 convertible well, and 1 gas injector. With the new project now operational, the Buzios oilfield is anticipated to achieve a remarkable output of up to 1 million barrels of crude oil per day in the latter part of 2025.
Advanced FPSO Technology
The Floating Production Storage and Offloading (FPSO) vessel involved in the Buzios7 Project is among the largest in the industry, boasting capabilities that surpass many of its counterparts. After conversion in China in July 2024, the FPSO successfully arrived at the oilfield later that same year, ready for production. With an impressive capacity to process up to 225,000 barrels of crude oil daily and handle 12 million cubic meters of natural gas, the vessel also includes advanced features aimed at minimizing environmental impact, such as closed flares to curb greenhouse gas emissions and heat recovery systems.
Partnership and Stake Overview
CNOOC Petroleum Brasil Ltda, a subsidiary wholly owned by CNOOC Limited, holds a 7.34% stake in the Buzios Shared Reservoir, which is under the operational control of Petrobras holding an 88.99% stake, while CNODC Brasil Petróleo e Gás Ltda retains a 3.67% share.
Future Endeavors and Expectations
With Buzios7's production now underway, CNOOC Limited looks forward to opportunities for further growth within this strategic asset. The Company remains committed to maximizing production while adhering to stringent safety and environmental standards that guide its operations.
About CNOOC Limited
CNOOC Limited is a key player in the global oil and gas industry, focusing on exploration and production with an emphasis on innovation and sustainability. The extensive portfolio and operational excellence position the Company as a leader in the sector, continually striving to enhance its market presence and production capacity.
Frequently Asked Questions
1. What is the Buzios7 Project?
The Buzios7 Project is the sixth development initiative launched by CNOOC Limited in the Buzios oilfield, located in the Santos Basin.
2. What is the expected output of the Buzios7 Project?
Once fully operational, the Buzios oilfield is projected to produce around 1 million barrels of crude oil per day by late 2025.
3. What is CNOOC Limited’s role in the Buzios Shared Reservoir?
CNOOC Petroleum Brasil Ltda, a subsidiary of CNOOC Limited, owns a 7.34% interest in the Buzios Shared Reservoir.
4. What technological advancements does the Buzios7 Project employ?
The Buzios7 Project utilizes advanced FPSO technology that includes features for reducing greenhouse gas emissions.
5. How does CNOOC Limited ensure sustainability in its operations?
CNOOC Limited incorporates environmental safeguards such as closed flare systems and heat recovery devices in its operational designs to minimize impact.
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