China’s oil and gas player CNOOC Limited has kicked off production from an oilfield development project in the Bohai Sea. This is the third project, which the Chinese giant has brought on stream offshore China this month.
Less than two weeks after bringing online two gas projects off China ahead of schedule, CNOOC revealed on Monday that Kenli 6-1 oilfield 10-1 North Block development project has started production. The firm holds 100 per cent interest in this project and acts as the operator.
Located in the south of Bohai Sea, at an average water depth of about 19 meters, the development project’s main production facilities include one production platform and two unmanned wellhead platforms.
The Chinese firm outlined that 25 development wells are planned to be put into production, including 16 production wells and 9 water injection wells. According to CNOOC, this project is expected to achieve its peak production of approximately 7,100 barrels of crude oil per day in 2023.
Furthermore, the company explained that Kenli 10-1 North Block is the main component of Kenli 6-1 oilfield which is “the first 100 million-ton oilfield discovered in the north of the Laizhou Bay.” CNOOC elaborated that during the implementation process, the project practised the concept of intelligentization, unmanned production, the modularization of engineering construction, the integration of appraisal and development as well as the sharing of old and new facilities to maximise the value of the oilfield regional development.
This development is in line with the company’s 2022 Business Strategy and Development Plan, regarding plans to increase oil and gas production in the next three years. To meet the goals set out in this plan, the Chinese giant worked on ramping up its hydrocarbon production in the first half of 2022, which coupled with high energy prices, doubled the company’s net profit.
Thanks to these efforts, CNOOC’s oil and gas output reached 304.8 million boe during this period.
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