Untitled Document
Untitled Document

CNOOC begins production at 2 locations in Pearl River Basin

China’s CNOOC Limited [NYSE: CEO, SEHK: 00883] said Dec. 28 that it has commenced production at two locations in the Pearl River Mouth Basin of the South China Sea, the Panyu 4-2/5-1 oil field adjustment project and the Liuhua 4-1 oilfield project.

Panyu 4-2/5-1 has an average water depth of about 100 meters (328 feet). The adjustment project was designed to share the existing facilities to develop the Panyu 4-2/5-1 oil field more effectively. The adjustment project is expected to hit its peak production in 2014.

CNOOC holds a 75.5% interest in the project and serves as operator of the Panyu 4-2/5-1 oil field. Burlington Resources China holds the remaining 24.5% interest.

The Liuhua 4-1 oil field has an average water depth of about 268 meters (879 feet). In view of the features of the oil field, CNOOC built a new subsea production system while sharing the surrounding facilities for overall development. This project is expected to hit its peak production in 2013.

The Liuhua 4-1 is an independent oil field in which CNOOC holds 100% interest and serves as operator.

Related Articles

Report predicts surge in world subsea expenditure

06/05/2014

Global subsea hardware capex could total $117 billion between 2014 and 2018, according to Douglas-Westwood’s latest market forecast.

Baker Hughes and Aker Solutions form subsea production alliance

04/22/2014 Baker Hughes Inc. and Aker Solutions ASA have agreed to form an alliance to develop technology for production solutions that will boost output, increase recovery rates, and reduce costs for subsea ...

Trendsetter promotes Downing to president

04/21/2014

Trendsetter Engineering Inc. has promoted Ron Downing to the position of president.  Downing assumes this responsibility from Mario Lugo who remains chairman and CEO.

FMC Technologies awarded contract for BP's Shah Deniz Stage 2 project

04/15/2014

FMC Technologies Inc. has received an order from BP to supply subsea systems for its Shah Deniz Stage 2 project in the Caspian Sea. The order has an estimated value of $322 million in revenue.

Shell postpones Norwegian subsea gas project

04/14/2014 Shell is postponing a project to provide subsea compression at the North Sea's Ormen Lange, the second-biggest Norwegian gas field, despite objections of a key license partner, according to a Reute...

More Oil & Gas Financial Articles

Report predicts surge in world subsea expenditure

Thu, Jun 5, 2014

Global subsea hardware capex could total $117 billion between 2014 and 2018, according to Douglas-Westwood’s latest market forecast.

Baker Hughes and Aker Solutions form subsea production alliance

Tue, Apr 22, 2014

Baker Hughes Inc. and Aker Solutions ASA have agreed to form an alliance to develop technology for production solutions that will boost output, increase recovery rates, and reduce costs for subsea fields.

Trendsetter promotes Downing to president

Mon, Apr 21, 2014

Trendsetter Engineering Inc. has promoted Ron Downing to the position of president.  Downing assumes this responsibility from Mario Lugo who remains chairman and CEO.

FMC Technologies awarded contract for BP's Shah Deniz Stage 2 project

Tue, Apr 15, 2014

FMC Technologies Inc. has received an order from BP to supply subsea systems for its Shah Deniz Stage 2 project in the Caspian Sea. The order has an estimated value of $322 million in revenue.

Shell postpones Norwegian subsea gas project

Mon, Apr 14, 2014

Shell is postponing a project to provide subsea compression at the North Sea's Ormen Lange, the second-biggest Norwegian gas field, despite objections of a key license partner, according to a Reuters report.

Most Popular

Oil & Gas Jobs

Search More Job Listings >>
Subscribe to OGFJ