CNOOC Limited, a leading energy company, has recently announced the commencement of production at the Liuhua 11-1/4-1 Oilfield Secondary Development Project. This project, located in the eastern South China Sea, marks a significant milestone for the company and the region as a whole.
The project includes two oilfields, Liuhua 11-1 and Liuhua 4-1, with an average water depth of approximately 305 meters. The main production facilities consist of a new deepwater jacket platform called “Haiji-2” and a cylindrical FPSO named “Haikui-1.” A total of 32 development wells are expected to be commissioned, with peak production estimated to reach around 17,900 barrels of oil equivalent per day by 2026. It is worth noting that the oil extracted from this field is heavy crude.
Mr. Zhou Xinhuai, the CEO and President of CNOOC Limited, expressed his excitement about this project, highlighting that it is the first oilfield in Asia to be developed using the ‘Deepwater Jacket Platform + Cylindrical FPSO’ mode. He emphasized that the company has overcome various technological challenges to bring this project to fruition. By utilizing this innovative mode, CNOOC Limited has not only revitalized deepwater oilfields but also significantly reduced construction and production costs. This development sets a precedent for the efficient development of similar deepwater oil and gas fields in the future.
CNOOC Limited holds a 100% interest in this project and serves as the operator, showcasing the company’s commitment to driving growth and innovation in the energy sector.
In a statement, the company provided forward-looking information about the project, highlighting expected future developments and business prospects. While the company remains optimistic about the project’s success, it acknowledges the uncertainties associated with factors such as fluctuating crude oil and natural gas prices, macro-political and economic conditions, and regulatory changes in host countries. These cautionary statements underscore the need for careful monitoring and evaluation as the project progresses.
For those seeking more information about CNOOC Limited and its projects, detailed information can be found on the company’s website. Additionally, media inquiries can be directed to Ms. Cui Liu, who handles Media & Public Relations at CNOOC Limited.
Overall, the commencement of production at the Liuhua 11-1/4-1 Oilfield Secondary Development Project represents a significant achievement for CNOOC Limited and a promising development for the energy industry in the region. By leveraging innovative technologies and operational strategies, the company is poised to make a lasting impact on the sector and contribute to sustainable energy production in the years to come.
