CNOOC's Shenhai-1 Phase II Natural Gas Development Project. (Source: CNOOC Ltd.)
The second phase of CNOOC Ltd.’s Shenhai-1Natural Gas Development Project has started production, CNOOC announced Sept. 27.
The project, located in 900 m of water in the South China Sea’s Qiongdongnan Basin, will include a new fixed production platform and three centralized subsea wellheads, with 12 development wells planned for commissioning. It is expected to reach peak production of 162 MMcf of natural gas and 3,931 bbl/d of condensate in 2025.
“The project has successfully overcome the world-class challenge of deepwater high-pressure oil and gas reservoir development. It witnesses effective large-scale conversion of reserves into production from the 'South China Sea trillion-cubic-meters-level gas region' and provides stable supply of clean energy for the economic and social development of South China,” CNOOC Chairman Wang Dongjin said in the press release.
CNOOC is the operator of Shenhai-1 and holds 100% interest in the project.
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