CNOOC Limited (the “Company”, SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces today that Lufeng Oilfields Phase II Development Project has commenced production.
The project is located in the eastern South China Sea, with an average water depth of approximately 136 meters. It consists of Lufeng 8-1 Oilfield, Lufeng 9-2 Oilfield and Lufeng 14-8 Oilfield. One new drilling platform is built, and 14 development wells are planned to be put into production, including 13 production wells and 1 water-injection well. The project is expected to achieve a peak production of approximately 22,600 barrels of crude oil per day in 2025.
CNOOC Limited holds 100% interest in this project and acts as the operator.
About CNOOC
CNOOC Limited (SEHK: 00883, SSE: 600938) is a listed company on the Shanghai Stock Exchange and the Hong Kong Stock Exchange with stock codes of 600938 and 00883, respectively.
The Company is the largest producer of offshore crude oil and natural gas in China and one of the largest independent oil and gas exploration and production companies in the world. The Company mainly engages in exploration, development, production and sale of crude oil and natural gas.