CNOOC Limited (SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces today that Enping 21-4 Oilfield Development Project has commenced production.
The project is located in eastern South China Sea, with an average water depth of approximately 89 meters. It will be developed by leveraging the existing production facilities and is expected to achieve a peak production of approximately 5,300 barrels of oil equivalent per day in 2025. The oil property is light crude.
The Company endeavors to improve project efficiency through technological and managerial innovation. Enping 21-4 oilfield was developed with 2 extra extended reach wells drilled from the existing production platform. The well depth exceeds 9,500 meters. The successful application of the development mode has set an example for similar projects of the Company.
CNOOC Limited holds 100% interest in this project and acts as the operator.
