CNOOC brings the Shenhai-1 Phase II natural gas development project on-stream
CNOOC Ltd. has commenced production at the Shenhai-1 Phase II natural gas development project.
The project is located in the Qiongdongnan Basin, northern South China Sea, with an average water depth of approximately 900 m. The main production facilities include a new fixed production platform and three centralized subsea wellheads, with 12 development wells planned to be commissioned.
It is expected to reach peak production of 162 MMft3 of natural gas and 3,931 bpd of condensate in 2025.
Wang Dongjin, Chairman of the company, said, "The project has successfully overcome the world-class challenge of deepwater high-pressure oil and gas reservoir development. It witnesses the effective large-scale conversion of reserves into production from the 'South China Sea trillion-cubic-meters-level gas region', and provides stable supply of clean energy for the economic and social development of South China. In the future, CNOOC Limited will accelerate the development of new quality productivity of marine energy, and strengthen the exploration and development of deep-water oil and gas resources, thereby further contributing to the high-quality development of China's offshore oil industry."
CNOOC Ltd. holds 100% interest in this project and is the operator.
The Shenhai-1 Phase II natural gas development project.
The Shenhai-1 Phase II natural gas development project.
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