China National Offshore Oil Corporation (CNOOC) has begun production from the Weizhou 6-13 oil field offshore China.
CNOOC said on Tuesday that production from the field began ahead of schedule.
Weizhou 6-13 is an independent oil field in which the company holds a 100 percent interest and acts as the operator.
The field is located in the Beibu Gulf in the South China Sea with an average water depth of approximately 35 meters.
In addition to utilizing the existing facilities of Weizhou 12-1 oilfield, the project also entailed the construction of one wellhead platform.
CNOOC added that there were seven wells currently in production and that the project was expected to reach peak production of approximately 9,400 barrels of crude oil per day in 2019, exceeding its overall development plan by approximately 3,000 barrels per day.
Yuan Guangyu, CEO of CNOOC, said: “Weizhou 6-13 not only commenced production ahead of schedule but also exceeded its ODP’s estimates in both reserves and production. This is attributable to the company’s efforts in the strengthening of its innovation and technology-driven philosophy and reinforcing its quality and efficiency enhancements.”
Earlier this year, CNOOC announced it would drill 132 exploration wells in 2018 and would bring five projects to production with a capex of up to $12.7 billion for 2018.
Apart from Weizhou 6-13, the company will begin production from the Penglai 19-3 oil field 1/3/8/9 comprehensive adjustment project, Dongfang 13-2 gas fields, and Wenchang 9-2/9-3/10-3 gas fields offshore China as well as the Hess-operated Stampede oil field in the United States.