CNOOC Ltd. began production on its Enping 24-2 oilfield in the Pearl River Mouth Basin off the South China Sea.
Enping 24-2 has an average water depth of approximately 86m to 96m. The main production facilities include one drilling and production platform, one floating production storage and offloading unit (FPSO) and 17 producing wells. Currently there are two wells producing approximately 8000bbl/d.
The project is expected to reach a peak production of about 40,000bbl/d in 2017.
CNOOC operates and holds 100% interest in Enping 24-2.
In August CNOOC completed construction of its 17th FPSO, the Hai Yang Shi You 118, which was build for the Enping 24-2 oilfield. The company invested US$440 million in the Hai Yang Shi You 118 that is 266.64m long and 50.5m high. It displaces about 35,000 tonnes. It is capable of processing 56,000bbl/d.
At the beginning of the year, CNOOC announced its plans to invest an estimated $17.35 billion to $19.82 billion on projects during 2014.
Image of Hai Yang Shi You 118. From CNOOC
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