CNOOC Limited Launches Significant Oilfield Development
CNOOC Limited Launches Significant Oilfield Development
CNOOC Limited (SEHK: 00883 and SSE: 600938) proudly announces the commencement of production for the Wenchang 16-2 Oilfield Development Project. This significant project represents a notable step forward for CNOOC Limited and its stakeholders.
Overview of the Wenchang 16-2 Oilfield Development
The Wenchang 16-2 project is strategically positioned in the western Pearl River Mouth Basin, where the water depth averages around 150 meters. This development project will utilize the existing facilities from the Wenchang Oilfields, enhancing operational efficiency through the addition of a state-of-the-art jacket platform.
Project Features
This new platform is designed to support various functions, including oil and gas production, offshore drilling, completion of operations, and accommodations for personnel. A total of 15 development wells are planned for commissioning, setting the stage for robust production forecasts.
Production Goals
The Wenchang 16-2 project anticipates achieving a plateau production of approximately 11,200 barrels of oil equivalent per day by 2027. This projection highlights CNOOC Limited's commitment to enhancing its production capacity and contributing to global energy resources with high-quality light crude oil.
Ownership and Operational Leadership
CNOOC Limited holds a 100% interest in the Wenchang 16-2 project and actively manages its operations, ensuring alignment with the company's standards of excellence and safety. The company stands as a leader in the offshore oil and natural gas industry, setting benchmarks for operational success.
Future Prospects for CNOOC Limited
The Wenchang 16-2 Oilfield Development Project signifies CNOOC Limited's ongoing commitment to expanding its oil and gas portfolio. As global demand for energy continues to grow, CNOOC Limited is positioned to meet these needs through innovation and strategic developments within its operations.
Frequently Asked Questions
What is the Wenchang 16-2 Oilfield Development Project?
The Wenchang 16-2 Oilfield Development Project is a new initiative by CNOOC Limited that has commenced production, strategically located in the western Pearl River Mouth Basin.
What is the expected production output from the project?
Once fully operational, the project is set to reach a plateau production of around 11,200 barrels of oil equivalent per day by 2027.
Who operates the Wenchang 16-2 project?
CNOOC Limited, which holds a 100% interest in the project, is responsible for its operations.
What type of crude oil does the Wenchang project produce?
The project will produce light crude oil, which is highly valued in the global market.
Why is this development significant for CNOOC Limited?
This development enhances CNOOC Limited's production capacity, strengthens its position in the offshore oil and natural gas industry, and meets increasing global energy needs.
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