Chinese oil and gas company CNOOC has commenced production at the Lufeng 12-3 Oilfield development project in the eastern South China Sea.
The Lufeng 12-3 project is jointly owned by CNOOC with a 60.8% stake, and South Korea-based company SK earthon, which owns a 39.2% stake and is also the operator.
It was discovered in 2018, through the drilling of the Lufeng 12-3-1 discovery well, which encountered a net oil pay of 36m.
Located in the northeastern part of the Zhu-I depression in the Pearl River Mouth Basin, South China Sea, China, the Lufeng 12-3 oilfield lies at an average water depth of around 240m.
It features key production facilities including a wellhead platform, and a new 100,000-ton intelligent FPSO, with 13 development wells planned to be put into production.
The project is one of the largest jointly developed oilfields in the South China Sea, expected to produce around 29,500 barrels of crude oil per day in 2024.
It aims to provide a stable energy supply for the Guangdong-Hong Kong-Macao Greater Bay Area and contribute to the development of the local economy, said CNOOC.
In a separate development, CNOOC has also announced the start of production at the Bozhong 28-2 South oilfield second adjustment project, in the southern Bohai Sea, China.
The Bozhong 28-2 South oilfield project is located in the southern Bohai Sea, at an average water depth of around 21m, and is 100% owned and operated by CNOOC.
It is expected to achieve a peak production of around 7,600 barrels of crude oil per day in 2024.
In August this year, the Chinese oil company completed the construction of the main hull structure for the cylindrical FPSO for the project.
The project’s key production facilities include a central platform and one water-injection subsea pipeline.
CNOOC plans to develop the project with 21 development wells, including 13 production wells and eight water-injection wells.
