CNOOC Limited (the “Company”, SEHK: 00883) announced today that Weizhou12-8E oilfield development project has commenced production.
The Weizhou 12-8E oilfield development project is located in Beibu Gulf in the South China Sea, with average water depth of about 30 meters. In addition to fully utilizing the existing processing facilities of Weixinan oilfields. A total of 7 development wells are planned, including 6 oil production wells and 1 production water reinjection well. The project is expected to reach its average daily production of approximately 4,700 barrels of crude oil in 2022, with its peak production of approximately 10,000 barrels of crude oil per day.
The Company holds 51% interest of Weizhou 12-8E oilfield development project. The partners of this oilfield are Roc Oil (China) Company, Horizon Oil (Beibu) Limited and Oil Australia Pty Ltd.
