CNOOC Starts New Oil Production at Penglai Field

China's CNOOC Ltd started producing crude oil at 1/3/8/9 block of the Penglai 19-3 oilfield off north China's Bohai Bay, the company said in a statement on Tuesday.

The new block currently has two wells in production and daily output is expected to reach a peak rate of 58,700 barrels in 2020.

CNOOC Ltd owns 51 percent of the block and acts as operator, while U.S. firm Conocophillips owns 49 percent.


(Reporting by Chen Aizhu; Editing by Susan Fenton)

Current News

Maintenance Contract Signed for GreatWhite Rig

Maintenance Contract Signed fo

UK Firm Seeks Suppliers to Build Full-Scale Tidal Energy Prototype

UK Firm Seeks Suppliers to Bui

Brava Energia Inks $65M Deal with PetroReconcavo for Natural Gas Assets

Brava Energia Inks $65M Deal w

Record Offshore Wind Auction Required for UK to Meet Targets

Record Offshore Wind Auction R

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine