CNOOC Limited has started production from the Penglai 19-3 oil field 1/3/8/9 comprehensive adjustment project located offshore China.
Penglai 19-3 oilfield 1/3/8/9 comprehensive adjustment project is located in south central Bohai Sea, 216 kilometers northwest from Tanggu and 80 kilometers southeast from Penglai city. The average water depth of the oilfield is 27 to 33 meters.
Announcing the start of production from the project on Monday, CNOOC said that the project is fully utilizing the existing facilities in Penglai 19-3 oilfield. Major production facilities include two wellhead platforms and a central processing platform. There are two wells currently producing. The project is expected to reach its peak production of approximately 58,700 barrels of crude oil per day in 2020.
CNOOC holds a 51 percent interest in Penglai 19-3 oilfield and acts as the operator and ConocoPhillips holds the remaining 49 percent interest.
Yuan Guangyu, CEO of CNOOC Limited, commented: “Successful production commencement of Penglai 19-3 oilfield 1/3/8/9 comprehensive adjustment project will strongly support Bohai to stabilize its production at 30 million tons for another 10 years.”