CNOOC Limited announces that the Penglai 19-3 oilfield 1/3/8/9 comprehensive adjustment project has commenced production.

CNOOC Limited announced Tuesday that the Penglai 19-3 oilfield 1/3/8/9 comprehensive adjustment project has commenced production.

The project, which is located in the south central Bohai Sea, is expected to reach peak production of approximately 58,700 barrels of crude oil per day in 2020.

“Successful production commencement of Penglai 19-3 oilfield 1/3/8/9 comprehensive adjustment project will strongly support Bohai to stabilize its production at 30 million tons for another 10 years,” Yuan Guangyu, CEO of CNOOC Limited, said in a company statement.

“We will put quality first and give priority to performance, so as to promote the company’s high-quality development while ensuring the HSE standard,” he added.

CNOOC holds a 51 percent interest in the Penglai 19-3 oilfield and acts as operator. ConocoPhillips holds the remaining 49 percent interest.

Back in March, CNOOC announced that the Weizhou 6-13 oilfield had commenced production ahead of schedule.

Weizhou 6-13 is located in Beibu Gulf in the South China Sea. This project is expected to reach a peak production of approximately 9,400 barrels of crude oil per day in 2019.

CNOOC Limited is China’s largest offshore crude oil and natural gas producer, according to the company’s website.





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