The Huizhou 25-8 Oilfield/Xijiang 24-3 Oilfield Xijiang 24-1 District joint development project has commenced production, CNOOC Ltd. said in a news release.
This project is located in the Pearl River Mouth Basin of the South China Sea with an average water depth of about 100 m (328 ft). The main production facilities include two drilling and production platforms and 29 producing wells, the release said. Currently, there are four wells producing about 6,300 bbl/d of crude. The project is expected to reach peak production of about 33,000 bbl/d in 2016.
This project is an independent project in which the company holds a 100% equity interest and acts as the operator.
The Xijiang 24-3 oilfield started production in November 1994 and the operator was Phillips China INC. In January 2010 the operatorship transferred to CNOOC Limited. Xijiang 24-1 district is the adjustment project for this oilfield, CNOOC said in the release. The Huizhou 25-8 oilfield and Xijiang 24-3 oilfield Xijiang 24-1 district project is a joint development project sharing one FPSO unit.
Recommended Reading
Shell’s CEO Sawan Says Confidence in US LNG is Slipping
2024-02-05 - Issues related to Venture Global LNG’s contract commitments and U.S. President Joe Biden’s recent decision to pause approvals of new U.S. liquefaction plants have raised questions about the reliability of the American LNG sector, according to Shell CEO Wael Sawan.
Some Payne, But Mostly Gain for H&P in Q4 2023
2024-01-31 - Helmerich & Payne’s revenue grew internationally and in North America but declined in the Gulf of Mexico compared to the previous quarter.
Green Swan Seeks US Financing for Global Decarbonization Projects
2024-02-21 - Green Swan, an investment platform seeking to provide capital to countries signed on to the Paris Agreement, is courting U.S. investors to fund decarbonization projects in countries including Iran and Venezuela, its executives told Hart Energy.
BP Pursues ‘25-by-‘25’ Target to Amp Up LNG Production
2024-02-15 - BP wants to boost its LNG portfolio to 25 mtpa by 2025 under a plan dubbed “25-by-25,” upping its portfolio by 9% compared to 2023, CEO Murray Auchincloss said during the company’s webcast with analysts.
Enterprise Declares Quarterly Cash Distribution
2024-01-08 - Enterprise Products Partners’ distribution will be paid Feb. 14 to common unitholders of record by Jan. 31.