CNOOC Limited Launches Production at Weizhou 11-4 Oilfield Project

CNOOC Limited, a prominent player in the oil and gas sector, has announced a significant milestone in its operations with the official commencement of production at the Weizhou 11-4 Oilfield Adjustment and Satellite Fields Development Project. This development is expected to have a notable impact on energy supply in the Beibu Gulf Basin of the South China Sea.

Project Overview

The Weizhou 11-4 project is strategically located in an area known for its rich hydrocarbon resources. Situated at an average water depth of approximately 43 meters, the project has been carefully developed to utilize existing facilities in the area, which enhances operational efficiency and reduces environmental impact. The project includes the construction of a newly-built unmanned wellhead platform and a central processing platform, connected to an existing platform via a trestle bridge.

Production Capacity

CNOOC has ambitious plans for the Weizhou 11-4 project, with the goal of achieving a plateau production rate of approximately 16,900 barrels of oil equivalent per day by 2026. This production will primarily consist of light crude oil, which is in high demand in the energy markets. To achieve these targets, the development includes the installation of 35 wells, comprising 28 production wells and 7 water injection wells. This well-planned setup promises to maximize resource extraction while maintaining responsible development practices.

Coordinated Development Plan

The project has adopted an innovative “three offshore processing centers + one onshore terminal” development plan. This approach ensures that the extracted resources can be efficiently gathered and transported, acting as a central hub to enhance resource capability while ensuring a stable energy supply to the region. This method not only optimizes production but also reinforces the company's commitment to sustainability and energy security.

CNOOC Limited holds a complete 100% stake in the project, solidifying its position as the operator and primary beneficiary of the oilfield's production. This level of control allows the company to implement its operational strategies effectively, ensuring maximum efficiency in production operations.

Looking Ahead

CNOOC Limited has expressed optimism about the prospects of the Weizhou 11-4 Oilfield project, aligning with its broader goals in energy production and development. As global demand for energy increases, projects like these will play a vital role in establishing a reliable supply chain that meets contemporary energy needs. In light of current challenges within the oil and gas industry, including fluctuating prices and regulatory changes, CNOOC's strategic investments exemplify its commitment to navigating these uncertainties while pursuing growth opportunities.

As the project progresses, stakeholders will be keeping a watchful eye on the operational results and financial impacts. This project not only represents a critical investment in CNOOC's future but also highlights the company's ability to adapt and innovate in a competitive industry.

For additional information regarding CNOOC Limited and its ongoing projects, interested parties are encouraged to visit CNOOC's official website.

In summary, the Weizhou 11-4 Oilfield Adjustment and Satellite Fields Development Project marks a significant step for CNOOC Limited and the region, providing an essential boost to local energy supplies while highlighting the company’s dedication to sustainable development in the oil and gas sector.