CNOOC COMMENCES PRODUCTION AT QINHUANGDAO 33-1S OILFIELD IN WESTERN BOHAI

June 11, 2020

Hong Kong based CNOOC announced today that Qinhuangdao 33-1S oilfield phase I project has commenced production.
Qinhuangdao 33-1S oilfield is located in central and western Bohai with an average water depth of 21 meters. The project has built one wellhead platform in addition to fully utilizing the existing facilities of Qinhuangdao 33-1 oilfield and Qinhuangdao 32-6 oilfield. A total of 13 producing wells are planned, including 9 production wells and 4 water injection wells. The project is expected to reach its peak production of approximately 6,000 barrels of crude oil per day in 2021.
CNOOC Limited holds 100% interest of Qinhuangdao 33-1S oilfield and acts as the operator.
The group is the largest producer of offshore crude oil and natural gas in China and one of the largest independent oil and gas exploration and production companies in the world. The Group mainly engages in exploration, development, production and sale of crude oil and natural gas.
CNOOC’s core operation areas are Bohai, the Western South China Sea, the Eastern South China Sea and the East China Sea in offshore China. The Group has oil and gas assets in Asia, Africa, North America, South America, Oceania and Europe.
As of 31 December 2019, the group owned net proved reserves of approximately 5.18 billion BOE, and its average daily net production was 1,387,564 BOE (unless otherwise stated, all amounts of reserve and production report include reserve and production accounted for by equity method). The Group had total assets of approximately RMB757.7 billion.
(Source: CNOOC)