Chinese agency approves production at Penglai 19-3 Oilfield

The State Oceanic Administration (SOA) has approved the revised overall development program (ODP) and redrafted environmental impact assessment (EIA) for the production of Penglai 19-3 oil field.

China’s SOA, which is responsible for the supervision and management of the sea area, has approved the ODP and EIA submitted by ConocoPhillips China (COPC). Following the approval, COPC can now resume production at the oil field.

According to SOA, CNOOC will be required to continue to supervise and assist COPC in implementing the new ODP and EIA and complying with the oil and gas production standards to ensure safe production of the Penglai 19-3 oil field.

The PL19-3 oilfield is operated under a Production Sharing Contract (PSC).

COPC is the operator of the oil field and is responsible for the management of daily operations. CNOOC Limited, a subsidiary of CNOOC, has 51% participating interest in the development and production phase of the oil field under the PSC.