CNOOC’s Panyu oilfield project expands production

Peak production is projected to reach 13,600 barrels of oil equivalent per day.

CNOOC Limited has announced the commencement of operation of its Panyu 11-12 Oilfield/Panyu 10-1 Oilfield/Panyu 10-2 Oilfield Adjustment Joint Development Project.

The project is located in the eastern South China Sea, with an average water depth of approximately 100 meters. The main production facilities include a new wellhead platform and an unmanned wellhead platform.

CNOOC said 15 development wells are planned to be commissioned. The project is expected to achieve a peak production of approximately 13,600 barrels of oil equivalent per day in 2025.

The Panyu oilfield has produced more than 380 million barrels of crude oil since it commenced production in 2003.

CNOOC fully owns and operates the project.