CNOOC Ltd, a listed branch of China National Offshore Oil Corp., has launched its combined Penglai 19-3 oilfield area 4 adjustment and Penglai 19-9 oilfield phase II project.
The offshore development is in China's Bohai Bay and is expected to reach peak production of 15,681 bbl/d of crude oil in 2022.
CNOOC holds a 51% interest in the project and is the operator. ConocoPhillips China, a subsidiary of U.S. oil giant ConocoPhillips Co., holds a 49% interest.
2023-09-22 - U.S. oil rigs fell by eight to 507 this week, their lowest since February 2022, while gas rigs dropped by three to 118.
2023-09-21 - The governments of Venezuela and Trinidad and Tobago signed an inter-institutional agreement related to joint hydrocarbon projects and bilateral trade between the countries.
2023-09-21 - The FPSO would have the capacity to process 16 MMcm/d of gas from the pre-salt fields.
2023-09-20 - Nominations will guide C-NLOPB on areas to be offered in the Eastern Newfoundland and Jeanne d’Arc regions if the call for bids proceeds in 2024.
2023-09-19 - Costs are up for the Johan Castberg and Balder X projects, partially due to supply chain challenges and work scope changes.