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CNOOC (NYSE:CEO) (TSX:CNU) announced today that the Enping 18-1 oilfield has commenced production. According to the press release: The Enping 18-1 oilfield is located in the Pearl River Mouth Basin of the South China Sea with an average water depth of approximately 90 meters. In addition to fully utilize the existing facilities of Enping 24-2 …
CNOOC (NYSE:CEO) (TSX:CNU) announced today that the Enping 18-1 oilfield has commenced production.
According to the press release:
The Enping 18-1 oilfield is located in the Pearl River Mouth Basin of the South China Sea with an average water depth of approximately 90 meters. In addition to fully utilize the existing facilities of Enping 24-2 oilfield, the project teamed up with Enping 23-1, Enping 23-2 and Enping 23-7 oilfield for regional joint development. There are currently three wells producing approximately 2,010 barrels of crude oil per day. The project is expected to reach its ODP designed peak production of approximately 11,800 barrels of crude oil per day within the year.
The Enping 18-1 is an independent oilfield in which the Company holds 100% interest and acts as the operator.