CNOOC Limited announced that Penglai 19-3 oilfield area 4 adjustment/Penglai 19-9 oilfield phase II project has commenced production.
The Penglai 19-3/19-9 oilfields are located in Bohai with an average water depth of approximately 28 meters. A new wellhead platform has been built, with 47 wells planned in total, including 30 production wells, 16 water injection wells and 1 development and appraisal well. This new wellhead platform will fully utilize the existing processing facilities of Penglai 19-3 oilfield. The project is expected to reach its peak production of approximately 15,681 barrels of crude oil per day in 2022.
CNOOC Limited holds 51% working interest in Penglai 19-3 oilfield area 4 adjustment/Penglai 19-9 oilfield phase II project and acts as the operator. ConocoPhillips China, CNOOC Limited’s partner, holds the remaining 49% working interest.
