China: CNOOC Starts Oil Production from Lufeng Offshore Development

Tuesday, November 23, 2021

Chinese national oil company CNOOC has started producing oil from Lufeng offshore oil fields in the eastern section of the South China Sea.

The oil fields include Lufeng 14-4 oil field, Lufeng 14-8 oil field, Lufeng 15-1 oil field, and Lufeng 22-1 oil field, with an average water depth of about 140-330 meters.

The main production facilities include two drilling production platforms and one subsea production system.

CNOOC said that 35 development wells were planned to be put into production, including 26 production wells and 9 water injection wells.

The Lufeng development is expected to achieve its peak production of about 46,000 barrels of crude oil per day in 2023.

CNOOC Limited owns 100% interest in the Lufeng oil fields regional development project.

Xia Qinglong, president of the Company, said:"The project adopts an integrated model of exploration, development, and production, which maximized the asset value of oil fields region, meanwhile the safe commencement of production also safeguarded energy supply throughout the Greater Bay Area."

Late in October, CNOOC said it had produced 144.1 million barrels of oil equivalent in the third quarter of 2021, representing an increase of 9.9% year-over-year.

Production from China increased by 13.0% YoY to 100.1 million BOE, mainly attributable to production growth from the start of new projects including Caofeidian 6-4 oilfield, Luda 21-2 oilfield, and the production growth from onshore unconventional gas fields. Overseas production increased by 3.2% YoY to 43.9 million BOE.

Categories: Geoscience Production China South China Sea

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