CNOOC announced that Penglai 19-3 oilfield area 4 adjustment/Penglai 19-9 oilfield phase II project has commenced production in the South China Sea.
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.
This project is jointly owned by ConocoPhillips China and CNOOC, with CNOOC holding a 51% working interest and acting as operator.