CNOOC WEIZHOU 12-2 PHASE 2 COMMENCES PRODUCTION

November 28, 2017

CNOOC Limited, the third-largest national oil company in the People’s Republic of China after CNPC and China Petrochemical Corporation, announced the Weizhou 12-2 oil field phase II project has already commenced production.
The Weizhou 12-2 oil field phase II project is located in Beibu Gulf in the South China Sea with an average water depth of approximately 35.7 meters. In addition to fully utilizing the existing facilities of Weizhou 12-2 oil field, the project has also built one wellhead platform. There are seven wells currently producing approximately 6,400 barrels of crude oil per day. The project is expected to reach its ODP designed peak production of approximately 11,800 barrels of crude oil per day in 2018.
The Weizhou 12-2 oil field phase II project is an independent oilfield in which the Company holds 100% interest and acts as the operator. (Source: CNOOC)