Guangzhou: China’s leading offshore oil and gas industry player, CNOOC, has announced that its Panyu project has commenced production.
The Panyu project is 100% owned by the company, is located in the Pearl river mouth basin of the South China Sea. The project consists of three gas fields.
The main production facilities include one platform, two sets of underwater production systems and 13 producing wells. There are currently two wells producing approximately 21m cu ft of natural gas per day.
The project is expected to reach its designed peak production of approximately 150m cc ft per day in 2015.
The company also made a discovery of well Lufeng 14-4-4 in the eastern South China Sea last month with a production level at around 1,320 barrels per day. [02/12/14]