HONG KONG, January 2, 2025 /PRNewswire/ — CNOOC Limited (the “Company”, SEHK: 00883 (HKD counter) and 80883 (RMB counter), SSE: 600938) today announces that Panyu 11-12 Oilfield/Panyu 10-1 Oilfield/Panyu 10 -2 The oilfield adjustment joint development project has started production.
The project is located in the eastern South China Sea, with an average water depth of approximately 100 meters. The main production facilities include a new wellhead platform and an unmanned wellhead platform. It is planned to commission 15 development wells. The project is expected to reach peak production of approximately 13,600 barrels of oil equivalent per day in 2025. The oil property consists of medium and heavy crude.
The project’s new unmanned wellhead platform is equipped with “Typhoon production mode” and intelligent heavy oil processing system, which can effectively improve production safety and operation efficiency. In addition, the new wellhead platform is connected to the existing Panyu 10-2 platform by a trestle, so that oil fields can share facilities and equipment, thereby reducing development costs .
The Panyu oil field has produced more than 380 million barrels of crude oil since production began in 2003. A smart oil field cluster with digital, intelligent and unmanned operation has already been established.
CNOOC Limited holds 100% interest in this project and is the operator.
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Notes to editors:
Further information about the Company is available at http://www.cnoocltd.com.
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This press release contains forward-looking information, including statements regarding probable future developments in the business of the Company and its subsidiaries, such as expected future events, business prospects or financial results. The words “expect”, “anticipate”, “continue”, “estimate”, “goal”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plan,” “intend” and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyzes made by the Company as of this date in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes currently appropriate in the circumstances. . However, it is uncertain whether actual results and developments will meet the Company’s current expectations and forecasts. Actual results, performance and financial condition may differ materially from the Company’s expectations, including, without limitation, those associated with macropolitical and economic factors, fluctuations in crude oil and natural gas prices, the highly competitive nature of the oil and gas industry. , climate change and environmental policies, the Company’s pricing forecasts, mergers, acquisitions and divestitures activities, HSSE and insurance policies and changes in anti- corruption, anti-fraud, anti-money laundering and corporate governance.
Accordingly, all forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot guarantee that any anticipated results or developments will be realized or, even if substantially realized, that they will have the expected effect on the Company, its business or its operations.
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For any additional 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
Mr. Rabbit Lee
Porda Havas International Financial Communication Group
Tel: +852 3150 6707
Fax: +852 3150 6728
E-mail: cnooc.hk@pordahavas.com
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SOURCE CNOOC Limited
