CNOOC Ltd., a listed branch of China National Offshore Oil Corp., on April 8 said it had started production at the eastern section of Weizhou 12-8 oil field, known as Weizhou 12-8E.
The project is expected to achieve its average production of approximately 4,700 bbl/d of crude oil in 2022, with its peak production at 10,000 bbl/d.
Located in Beibu Gulf in the South China Sea with average water depth of about 30 m, the project will use the existing processing facilities of Weixinan oil fields and has planned seven development wells.
CNOOC Ltd. holds 51% interest in the project, while the remaining interests are held by Roc Oil (China) Co., Horizon Oil (Beibu) Ltd. and Oil Australia Pty Ltd.
Recommended Reading
Barnett & Beyond: Marathon, Oxy, Peers Testing Deeper Permian Zones
2024-04-29 - Marathon Oil, Occidental, Continental Resources and others are reaching under the Permian’s popular benches for new drilling locations. Analysts think there are areas of the basin where the Permian’s deeper zones can compete for capital.
For Sale, Again: Oily Northern Midland’s HighPeak Energy
2024-03-08 - The E&P is looking to hitch a ride on heated, renewed Permian Basin M&A.
CEO: Continental Adds Midland Basin Acreage, Explores Woodford, Barnett
2024-04-11 - Continental Resources is adding leases in Midland and Ector counties, Texas, as the private E&P hunts for drilling locations to explore. Continental is also testing deeper Barnett and Woodford intervals across its Permian footprint, CEO Doug Lawler said in an exclusive interview.
Comstock Continues Wildcatting, Drops Two Legacy Haynesville Rigs
2024-02-15 - The operator is dropping two of five rigs in its legacy East Texas and northwestern Louisiana play and continuing two north of Houston.
To Dawson: EOG, SM Energy, More Aim to Push Midland Heat Map North
2024-02-22 - SM Energy joined Birch Operations, EOG Resources and Callon Petroleum in applying the newest D&C intel to areas north of Midland and Martin counties.