CNOOC Limited Announces its 2022 Business Strategy and Development Plan

CNOOC Limited (CNU) announced that Caofeidian 11-6 oilfield expansion project and Kenli 16-1 oilfield have commenced production.

Caofeidian 11-6 oilfield expansion project is located in the west of Bohai Sea, with average water depth of about 23 meters. In addition to fully utilizing the existing processing facilities of Caofeidian 11-6 oilfield, the project has built a new unmanned wellhead platform. A total of 9 development wells are planned, including 7 production wells and 2 water injection wells. The project is expected to reach its peak production of approximately 4,600 barrels of crude oil per day in 2022.

Kenli 16-1 oilfield is located in the south of Bohai Sea, with average water depth of about 15 meters. In addition to fully utilizing the existing processing facilities of Kenli 10-1 oilfield, the project has built a new wellhead platform. A total of 23 development wells are planned, including 16 production wells and 7 water injection wells. The oilfield is expected to reach its peak production of approximately 7,500 barrels of crude oil per day in 2022.