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.
Reducing emissions remains a goal of oil and gas companies despite current challenges, industry groups say.
The P-74, P-75, P-76 and P-77 platforms produced a combined 674,000 bbl/d of oil and 844,000 boe/d.
Tendeka, an independent global completions service company, said July 15 it has joined the OSIsoft EcoSphere, a collection of more than 300 industrial leaders that provide products, applications, and services for the PI system.