CNOOC Limited (the “Company”, SEHK: 00883,NYSE: CEO, TSX: CNU) today announced that Weizhou 11-2 oilfield phase II project has commenced production.
The Weizhou 11-2 oilfield phase II project is located in Beibu Gulf in the South China Sea with water depth of about 40 meters. In addition to fully utilizing the existing processing facilities of Weizhou 11-2 oilfield, the project has built one simple unmanned wellhead platform. A total of 13 development wells are planned, including 7 production wells and 6 water injection wells. The project is expected to reach its peak production of approximately 6,000 barrels of crude oil per day in 2022.
CNOOC Limited holds 100% interest in Weizhou 11-2 oilfield phase II project and acts as the operator.
