CNOOC Limited holds 100% interest in Luda 29-1 oilfield and acts as the operator.
Headquarters of CNOOC in Chaoyangmen neighbourhood of Beijing. (Credit: Daniel Case/Wikipedia.org)
CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) today announced that Luda 29-1 oilfield has commenced production.
Luda 29-1 oilfield is located in Liaodong Bay of Bohai Sea, with water depth of about 32 meters. In addition to fully utilizing the existing processing facilities of Luda 21-2/Luda 16-3 oilfield, the project has also built a new wellhead platform, with 7 development wells planned in total, including 4 production wells, 2 water injection wells and 1 water source well. The project is expected to reach its peak production of approximately 4,440 barrels of crude oil per day in 2021.
CNOOC Limited holds 100% interest in Luda 29-1 oilfield and acts as the operator.
Source: Company Press Release