CNOOC starts production from Penglai 25-6 project

CNOOC Ltd. started production from its Penglai 25-6 oilfield area 3 project in the south central Bohai Sea.

The project, in average water depth of 27 m, fully utilizes existing processing facilities of Penglai oilfields. A new wellhead platform was built, and 58 development wells are planned, including 38 production wells and 20 water injection wells. Peak production of 11,511 b/d of crude oil is expected in 2023.

CNOOC is operator of the project with 51% interest. ConocoPhillips holds the remaining 49% working interest.