CNOOC Limited has announced that the Weizhou 5-3 Oilfield Development Project has commenced production.
Weizhou 5-3 Oilfield Development Project
The project is located in the Beibu Gulf Basin of the South China Sea, with an average water depth of approx. 35 meters. The main production facility includes 1 self-installing wellhead platform, which leverages the adjacent existing facilities for development. 10 development wells are planned to be commissioned, including 7 production wells, 2 water injection wells and 1 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 Ltd. holds the remaining 49%.
Source: CNOOC Ltd
