The Weizhou 12-2 oil field joint development project (Weizhou 12-2) and Weizhou 11-4 North oil field Phase II project (Weizhou 11-4 North) have recently commenced production, CNOOC Ltd. (NYSE: CEO) said in a news release.
The Weizhou 12-2 project is located in Beibu Gulf Basin of the South China Sea with an average water depth of about 36 m. This project has three oil fields, including Weizhou 12-2, Weizhou 12-1 West and the north part of Weizhou 11-2. The main production facilities include three wellhead platforms and 18 producing wells, which have all commenced production, producing a total of about 16,000 barrels of crude oil per day and reaching its designed peak production, CNOOC said in the release.
Weizhou 11-4 North project is located in Beibu Gulf Basin of the South China Sea with an average water depth of about 40 m. The project shares the existing adjacent facilities for the development and built two wellhead platforms and 15 producing wells, CNOOC said. There is currently one well on production, producing a total of about 500 barrels of crude oil per day. The project is expected to reach its peak production of about 8,000 barrels per day within the year.
CNOOC holds 100% interest in the oil fields and serves as the operator.
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