Hong Kong-listed CNOOC Limited has started up ahead of schedule the Penglai 25-6 oilfield area 3 project off its native China.
In addition to fully utilising the existing processing facilities of the Penglai oilfields, this grassroots development includes a new wellhead platform. Fifty eight development wells are planned in total - 38 producers and 20 water injection wells.
The Penglai 25-6 oilfield area 3 project is expected to achieve peak output of approximately 11,511 barrels of crude per day in 2023.
The Penglai 25-6 oilfield area 3 project is located in the south central Bohai Sea, with average water depths of around 27 metres.
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CNOOC Limited has a 51% operated interest in the Penglai 25-6 oilfield area 3 project, while subsidiaries of US independent ConocoPhillips hold the remaining 49% working interest.
