CNOOC Limited has announced the start of production from its Wushi 23-5 oilfield development in the Beibu Gulf area of the South China Sea. The oilfield, located in 28 meters of water depth, is equipped with two new wellhead platforms and an upgraded reception terminal at Wushi. The project aims to bring 28 oil wells and 15 water injectors online, with a peak production rate of approximately 18,100 barrels of oil equivalent per day (boe/d) of light crude. Notably, this is the first offshore oil field in China to be powered from shore, marking a significant milestone in the country's oil production capabilities. Additionally, the project includes an integrated natural gas treatment system to achieve full-process recovery and utilization of associated gas [866dddd6].
This development in the Beibu Gulf area of the South China Sea strengthens CNOOC's position as a major player in offshore oil production. The company has been actively exploring and developing oil and gas resources in the region, with a focus on enhancing domestic energy security. CNOOC has made significant discoveries in the South China Sea, including the Kaipingnan oil field with proven reserves of 102 million tons of oil and gas. The company has drilled four highly productive oil wells in the area, contributing to China's efforts to reduce reliance on oil imports. The Wushi 23-5 oilfield development further expands CNOOC's production capacity and reinforces its commitment to meeting China's growing energy demand [985cd0a8].
In related news, China has completed construction of a giant offshore oil and gas platform in the eastern port of Qingdao. The platform, built by the state-owned China Offshore Oil Engineering Company, is 24 storeys high, weighs over 17,000 tonnes, and has a deck the size of 15 basketball courts. It took three years to build and has one of the world's largest transmission capacities. The platform will be capable of delivering 24 million tonnes of crude oil and 7.4 billion cubic meters of gas annually. It will be transported to the Marjan oil field in the Gulf at the end of the month. The Marjan oil field, owned by Saudi Aramco, is part of the $12 billion Marjan crude increment program to expand the field's capacity by 300,000 barrels of crude oil per day [1bfafb70].