China National Offshore Oil Corp. (CNOOC) has commenced production in the Eastern South China Sea’s Enping 15-1/10-2/15-2/20-4 oilfields, marking the first offshore carbon capture demonstration project in China, CNOOC announced Dec. 7.
The Enping 15-1/10-2/15-2/20-4 oilfields joint development project involves the first recently constructed unmanned platform in the Eastern South China Sea. It is capable of functioning under remote production under typhoon mode and containing one planned CO₂ gas injection well for reinjection and storage of CO₂ produced by the oilfields.
“The commissioning of Enping 15-1/10-2/15-2/20-4 oilfields joint development project marks a breakthrough for the construction of unmanned, less-manned and intelligentized offshore oilfields in China,” said CEO Zhou Xinhuai.
The oilfields have an average water depth of around 90 m. Its main production facilities include two drilling production platforms and one unmanned wellhead platform. CNOOC anticipates the addition of 48 production wells for the project to achieve peak production in 2024 of approximately 35,500 bbl/day of crude oil.
CNOOC Limited acts as the operator of Enping 15-1/10-2/15-2/20-4 oilfields joint development project and holds 100% interest.
Recommended Reading
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
Endeavor Integration Brings Capital Efficiency, Durability to Diamondback
2024-02-22 - The combined Diamondback-Endeavor deal is expected to realize $3 billion in synergies and have 12 years of sub-$40/bbl breakeven inventory.
Patterson-UTI Braces for Activity ‘Pause’ After E&P Consolidations
2024-02-19 - Patterson-UTI saw net income rebound from 2022 and CEO Andy Hendricks says the company is well positioned following a wave of E&P consolidations that may slow activity.
CEO: Magnolia Hunting Giddings Bolt-ons that ‘Pack a Punch’ in ‘24
2024-02-16 - Magnolia Oil & Gas plans to boost production volumes in the single digits this year, with the majority of the growth coming from the Giddings Field.
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.