Beijing: China’s largest offshore oil and gas producer, CNOOC, announced that its Jinzhou 9-3 comprehensive adjustment project has commenced production.
The Jinzhou 9-3 oilfield is located in the north Liaodong Bay in the Bohai Sea at a depth in the range of 6.5-10.5 metres. The adjustment project is expected to reach its designed peak production of approximately 12,000 barrels per day in 2015.
The company also announced its net production target for 2015 is up to 495 million barrels of oil equivalent, of which production from China accounts for approximately 67%. The company has another six new projects coming on stream this year, and plans to drill around 162 exploration wells within the year.
