CNOOC Limited (the “Company”, SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces that Dongfang 29-1 Gas Field Development Project has commenced production.
The project is located in the Yinggehai Basin, with an average water depth of approximately 68 meters. The main production facilities include a new unmanned wellhead platform and a submarine pipeline. A total of 6 development wells are planned to be commissioned. The project is expected to achieve a peak production of 38 million cubic feet of natural gas per day in 2025.
The new unmanned wellhead platform of the project is constructed in a standardized and integrated manner. The equipment layout has been optimized to make efficient use of platform space and significantly reduce project investment. The oil and gas produced will be connected to the existing facilities of Dongfang gas fields through the submarine pipeline for processing. In recent years, CNOOC Limited has been continually tapping the resource potentials of the Yinggehai-Qiongdongnan Basin, to fully utilize the existing production facilities and thereby reduce the development cost of new projects.
The commissioning of Dongfang 29-1 will further release the production capacity of the Dongfang gas fields. The Company’s offshore gas fields around Hainan Island will continue to provide clean, reliable and stable energy supply for the Island.
CNOOC Limited holds 100% interest in this project and is the operator.
