Hong Kong,, February 21, 2025 / Prnewswire / – CNOOC Limited (The “Company”, Sehk: 00883 (HKD counter) and 80883 (RMB counter), SSE: 600938) announces today that the development project of phase II of Luda 5-2 North Oilfield started production.
The project is located in the central part of the Bohai Sea, with an average water depth of around 30 meters. The main production facilities include 1 new auxiliary production platform and 1 production well production well. A total of 29 development wells should be put into service, including 28 production wells and 1 water wells. The project should reach a maximum production of around 6,700 barrels of oil equivalent per day in 2026. Oil property is a heavy crude.
Luda 5-2 North Oilfield is the first oil field to produce from super heavy oil tanks by thermal recovery in China. Its phase I project had already started production in 2022. CNOOC Limited made major technological breakthroughs in this project and considerably improved the development of super heavy offshore oil. The phase II project will also operate the resources of the oil field. Thanks to optimized technology for injection of jet pumps, the project has carried out effective and economical development of heavy crude crude, which could further improve the company’s energy supply capacity.
CNOOC Limited holds 100% interest in this project and is the operator.
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More information on the company is available at http://www.cnoocltd.com.
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This press release includes information in the future, including declarations concerning probable future developments in the activities of the company and its subsidiaries, such as future events, commercial prospects or planned financial results. The words “wait”, “anticipated”, “continue”, “estimate”, “objective”, “continuous”, “May”, “will”, “project”, “should”, “believe”, “plans”, “Hears” and similar expressions aim to identify these prospective declarations. These declarations are based on hypotheses and analyzes carried out by the company on this date in the light of its experience and its perception of historical trends, current conditions and future developments expected, as well as other factors which, according to the company, are currently appropriate in the circumstances. However, the question of whether the real results and developments will meet the current expectations and predictions of the company is uncertain. Real results, performance and financial situation may differ considerably from the expectations of the company, including, but without limiting themselves, those associated with macro-political and economic factors, fluctuations in crude oil and gas prices Natural, the highly competitive nature of the petroleum and gas industry, climate change and environmental policies, company price forecasts, mergers, acquisitions and divests activity, fonts HSS and insurance and changes in the fight against corruption, anti-fraud, laws and regulations anti-balance and regulation of corporate governance.
Consequently, all the prospective declarations made in this press release are qualified by these warning declarations. The company can only ensure that the results or developments planned will be carried out or, even if they are considerably carried out, that they will have the expected effect on the company, its activities or its operations.
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For more requests, please contact:
Ms. Cui liu
Media and public relations
CNOOC Limited
Tel: + 86-10-8452-6641
Fax: + 86-10-8452-1441
E-mail: Mr@cnooc.com.cn
M. Rabbit lee
Porda Havas International Finance Communications Group
Tel: +852 3150 6707
Fax: +852 3150 6728
E-mail: cnooc.hk@pordahavas.com
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Source CNOOC Limited
