First Production Commences at CNOOC’s Enping 24-2 Oil Field Offshore China

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China’s largest offshore crude oil and natural gas producer CNOOC Limited announced Monday that it has commenced first production at the company-operated Enping 24-2 oil field in the Pearl River Mouth Basin, South China Sea offshore China. CNOOC indicated that the main production facilities at the Enping 24-2 oil field, located at average water depth of around 282-315 feet (86-96 meters), include one drilling and production platform, one floating production storage and offloading unit (FPSO) and 17 producing wells, the firm said in a press statement Monday.

Two wells are currently producing approximately 8,000 barrels of crude oil per day and the Enping 24-2 development is expected to reach peak production of approximately 40,000 barrels per day in 2017.

In August, CNOOC – which holds 100 percent interest in the Enping 24-2 oil field – has indicated that there will be no change to the firm’s planned 2014 production target of 422-435 million barrels of oil equivalent.

In this regard, CNOOC began producing gas from the Lingshui 36-1 field offshore Zhejiang province in July, while first oil commenced from the Panyu 10-2/5/8 development in South China Sea’s Pearl River Mouth Basin and the Wenchang 13-6 field in Western South China Sea in late July and late August, respectively.

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