CNOOC Ltd.’s Penglai 19-3 oilfield area 5/10 project has begun producing, the operator announced on Oct. 27.
Penglai 19-3 is located in the south-central Bohai Sea and has an average water depth of 30 m. A pair of wellhead platforms handle the production. In total, CNOOC plans to drill 130 development wells, consisting of 87 production wells and 43 water injection wells. The project is expected to reach peak production of 29,800 bbl/d in 2027.
CNOOC operates the field with 51% interest on behalf of partner ConocoPhillips China, which holds 49% interest.
On Oct. 26, CNOOC announced bringing its Enping 18-6 oil field in the South China Sea online. CNOOC expects that field to reach peak production of 9,300 bbl/d in 2024.
Recommended Reading
Range Confirms: Data Center Talk Underway for Marcellus Gas-fired Power
2024-10-24 - Deals will take a while, however, as these multi-gigawatt agreements are also multi-decade investments, said Range Resources CFO Mark Scucci.
Companies Hop on Digital Twins, AI Trends to Transform Day-to-day Processes
2024-10-23 - A big trend for oil and gas companies is applying AI and digital twin technology into everyday processes, said Kongsberg Digital's Yorinde Lokin-Knegtering at Gastech 2024.
Morgan Stanley Backs Data Center Builder as AI Fervor Grows
2024-10-21 - Morgan Stanley Infrastructure Partners (MSIP) is backing data center developer Flexential as demand for AI and high-performance computing grows.
Liberty Capitalizes on Frac Tech Expertise to Navigate Soft Market
2024-10-18 - Liberty Energy capitalized on its “competitive edge” when navigating a challenging demand environment in third-quarter 2024, CEO Chris Wright said in the company’s quarterly earnings call.
Exclusive: Embracing AI for Precise Supply-Demand Predictions
2024-10-17 - Dak Liyanearachchi, the CTO with NRG, gives insight on AI’s capabilities in optimizing energy consumption and how NRG is making strides to manage AI’s growth, in this Hart Energy exclusive interview.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.