CNOOC project starts production from Pearl River Mouth basin

HONG KONG -- CNOOC has announced that the Huizhou 25-8 oil field/Xijiang 24-3 oil field Xijiang 24-1 District Joint Development project has started production.

This project is located in the Pearl River Mouth basin of the South China Sea, with an average water depth of approximately 100 m.

The main production facilities include two drilling and production platforms and twenty-nine producing wells. Currently, there are four wells producing approximately 6,300 bopd; and the project is expected to reach peak production, of approximately 33,000 bopd, in 2016.

CNOOC holds 100% equity interest in the project and acts as the operator.

The Xijiang 24-3 oil field started production in November 1994, and the operator was Phillips China. In January 2010, the operatorship transferred to CNOOC.

Xijiang 24-1 district is the adjustment project for this oil field. The Huizhou 25-8 oil field/Xijiang 24-3 oil field Xijiang 24-1 district project is a joint development project sharing one FPSO.