Chinese oil and gasoline firm CNOOC has produced first oil from the Liuhua 16-2 and 20-1 joint improvement mission within the South China Sea.

The Liuhua
16-2 and 20-2 oilfield joint improvement mission is situated within the japanese
South China Sea, in a mean water depth of round 410 meters. 

The
improvement consists of one newbuild 150,000 dwt FPSO and three underwater
manufacturing methods.

CNOOC mentioned
on Sunday complete of 26 improvement wells have been deliberate to be put into
manufacturing and improvement.

The mission
is predicted to succeed in its peak manufacturing of roughly 72,800 barrels of
crude oil per day in 2022.

It is value
noting that CNOOC holds 100 per cent curiosity within the Liuhua 16-2 oilfield/ 20-2
oilfield joint improvement mission.

Liuhua 16-2
was found in May 2010 and incorporates 67-metre-thick oil pay zones. Located
within the north-eastern a part of Baiyun Sag, it’s the first oil discovery to be
made within the area.

The Liuhua
20-2 subject was found by the LH20-2-1 discovery effectively in May 2015. The effectively
was drilled to a depth of two,970 metres and encountered 35.2-metre–thick oil
pay zones. It was examined and flowed on the price of eight,000 barrels of oil per
day, with a crude oil density of zero.75.

To remind, CNOOC mentioned in January that ten new initiatives have been anticipated to return on stream. The initiatives in query have been Luda 21-2/16-Three mission, Penglai 19-Three/Penglai 19-9, Qinhuangdao 33-1 South oil subject section I, Bozhong 19-6 gasoline subject pilot space improvement mission, Nanbao 35-2 oil filed S1 space, Jinzhou 25-1 oil subject 6/11 space, Liuhua 29-1 gasoline subject improvement mission, and Liuhua 16-2/20-2 joint improvement mission in offshore China.

The solely two initiatives, not offshore China, are the Liza oil subject Phase 1 in Guyana and Buzzard oil subject Phase II within the UK.

In the identical pre-COVID announcement, CNOOC Limited acknowledged it will have a $13.7 billion 2020 capex finances to extend in its oil and gasoline reserves and manufacturing with 227 exploration wells deliberate to be drilled throughout the 12 months.

The put up CNOOC begins up fifth mission off China in 2020 appeared first on Offshore Energy.

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