China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has brought on stream the Weizhou 5-3 oil field development project in Beibu Gulf Basin in the South China Sea…
China's state-owned oil and gas firm China National Offshore Oil Corporation (CNOOC) has brought on stream the Weizhou 5-3 oil field development project in Beibu Gulf Basin in the South China Sea.
The main production facility includes one self-installing wellhead platform, which leverages the adjacent existing facilities for development.
According to CNOOC, 10 development wells are planned to be commissioned, including seven production wells, two water injection wells and one gas injection well.
The project is expected to achieve a plateau production of approximately 10,000 barrels of oil equivalent per day in 2026. The oil property is medium crude.
CNOOC Limited holds 51% interest in the project, and Smart Oil Investment holds the remaining 49%.
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