CNOOC commences production at Weizhou 5-3 oilfield project

It is expected to reach plateau production by 2026

CNOOC Limited and 80883 have announced the commencement of production at Weizhou 5-3 Oilfield Development Project.

In a statement, CNOOC said the project is located in the Beibu Gulf Basin of the South China Sea, with an average water depth of approximately 35 meters. The main production facility includes 1 self-installing wellhead platform, which leverages the adjacent existing facilities for development.

A total of 10 development wells are planned to be commissioned, including 7 production wells, 2 water injection wells and 1 gas injection well.

Weizhou 5-3 is projected to reach plateau production of approximately 10,000 barrels of oil equivalent per day in 2026.

CNOOC holds a 51% interest in the project, and Smart Oil Investment Ltd. holds the remaining 49%.