#China #Hong Kong #CNOOC #Xijiang #Oilfields

CNOOC Limited Launches Xijiang Oilfields 24 Block Production

CNOOC Limited proudly announces the commencement of production at the Xijiang Oilfields 24 Block, a significant milestone for the company harnessing the potential of the Pearl River Mouth Basin. This project is set to redefine offshore oil production with innovative infrastructure and technology.

Project Overview

Situated in the shallow waters of the Pearl River Mouth Basin, the Xijiang Oilfields 24 Block Development Project utilizes existing facilities from the nearby Huixi Oilfields. The project features the addition of a new unmanned wellhead platform, marking a notable advancement in offshore oil extraction. With plans to commission ten development wells, CNOOC anticipates a plateau production of about 18,000 barrels of oil equivalent per day by 2026.

Innovative Technology

A hallmark of the project is the introduction of the Xijiang 24-7 platform. This platform stands out as China’s first unmanned offshore installation specifically designed for high-temperature fluid cooling and export purposes. The advanced temperature control system employed helps mitigate the adverse effects of high temperatures on subsea pipelines, ensuring a smooth and reliable production flow.

This enhancement not only allows for a reduction in operational risks but also underscores the company's commitment to adopting cutting-edge technologies in its operations. It is an essential step towards optimizing efficiency and sustainability in the energy sector.

CNOOC's Operational Role

CNOOC Limited holds a 100% interest in the Xijiang 24 Block and is responsible for its operation. This strategic control enables the company to implement its best practices and maximize the output, contributing positively to the overall energy landscape. CNOOC’s efforts in deploying innovative technology and expansive development plans illustrate its resilience in navigating the competitive oil market while adhering to regulatory standards and industry best practices.

The initiative is also aligned with a broader strategy aimed at bolstering energy security to meet growing demand, particularly within local and regional markets. By optimizing its assets and leveraging technological advancements, CNOOC is set to play a pivotal role in maintaining energy stability.

Future Outlook

The Xijiang Oilfields 24 Block marks just the beginning of CNOOC’s ambitious development plans. As the company aims for a peak production level, it also acknowledges the volatility tied to global oil and gas prices, environmental regulations, and competitive pressures in the market. These factors underline the need for ongoing investment in technology and efficiency

In summary, the launch of the Xijiang Oilfields 24 Block represents a significant leap forward for CNOOC Limited, showcasing its dedication to innovation and sustainable energy production. The anticipated production levels could have substantial implications for both the company and the local energy market in the coming years.

For more information about CNOOC Limited’s updates and projects, you can visit CNOOC's official site.