China National Offshore Oil Corporation (CNOOC) is considering cheaper options to develop its Liuhua oil complex in the Pearl River Mouth basin of the South China Sea that may replace a concept to use tension leg platforms for the development.
Industry officials said CNOOC is now favouring a subsea production system tied back to a floating, production, storage and offloading vessel to develop the Liuhua 16-2 and Liuhua 20-2 fields after cost concerns led to a project reassessment.
They
