CNOOC Limited Unveils New Production Initiatives to Boost Oil Output

CNOOC Limited Unveils New Production Initiatives

CNOOC Limited, a prominent player in the oil and gas sector, recently announced the start of production at two significant oil projects: the Caofeidian 6-4 Oilfield Comprehensive Adjustment Project and the Wenchang 19-1 Oilfield Phase II Project. These initiatives mark a crucial step in increasing the company's production capacity while also focusing on environmentally sustainable practices.

Caofeidian 6-4 Oilfield Comprehensive Adjustment Project

Located in the western area of the Bohai Sea, the Caofeidian 6-4 project benefits from an average water depth of about 20 meters. This project includes the construction of a new production wellhead platform designed to work alongside existing facilities. A total of 25 development wells are slated for production, comprising 22 production wells and 3 water injection wells. CNOOC anticipates achieving peak production of roughly 11,000 barrels of oil equivalent per day by 2026, which will significantly enhance its operational output in the region.

The crude oil sourced from this field is classified as light crude, known for its relatively lower density and viscosity, making it easier to extract and process.

Wenchang 19-1 Oilfield Phase II Project

On the other hand, the Wenchang 19-1 Oilfield Phase II Project is positioned in the western Pearl River Mouth Basin, featuring a deeper average water depth of approximately 125 meters. This project includes a new drilling and production platform optimized to utilize adjacent existing infrastructures for efficient development. The plan is to bring 13 developmental wells into production, with an expected peak output of around 12,000 barrels of oil equivalent per day by 2027. The oil property here is categorized as medium crude, which, while slightly more viscous than light crude, remains a valuable resource for refined products.

Commitment to Sustainability

CNOOC Limited aims to revolutionize offshore oil and gas fields through intelligent technology and eco-friendly practices. Both projects incorporate advanced intelligent designs, enhancing various operational aspects including crude oil extraction, equipment maintenance, and safety management through modern technologies. Notably, the Caofeidian project reinjects associated gas back into the reservoir using gas injection compressors, which effectively reduces carbon dioxide emissions by approximately 13,000 tons annually.

Meanwhile, the Wenchang project employs a megawatt-level high-temperature flue gas ORC power generation system, predicted to produce about 24 million kilowatt-hours of electricity, translating into an annual reduction of about 23,000 tons of carbon dioxide emissions. This approach highlights CNOOC's commitment to providing energy in a more sustainable and responsible manner.

Full Ownership and Operational Management

CNOOC Limited holds 100% interest in both the Caofeidian 6-4 and Wenchang 19-1 projects and takes on the role of operator. This full ownership allows the company to maintain a significant degree of control over project management and operational efficiency, enabling them to implement their sustainability goals effectively while also seeking to maximize production output.

In conclusion, through these new oil production projects, CNOOC Limited not only enhances its strategic foothold in the energy sector but also reaffirms its commitment to environmentally responsible practices, aiming to provide the society with clean, dependable, and stable energy supplies. As the company continues to innovate and adapt, the oil and gas industry watches closely, as CNOOC sets the pace for a modern, sustainable approach to energy production.

For further details regarding CNOOC Limited and its initiatives, you can visit CNOOC's official website.