CNOOC has announced that the Lufeng 12-3 Oilfield Development Project has commenced production.

The project is located in the eastern South China Sea, with an average water depth of approx. 240 meters. The main production facilities include one wellhead platform and one newly built 100,000-ton intelligent FPSO, with 13 development wells planned to be put into production. It is expected to achieve a peak production of approx. 29,500 barrels of crude oil per day in 2024.

Lufeng 12-3 Oilfield is the largest jointly-developed oilfield in the South China Sea in the past decade. It will provide stable energy supply for the Guangdong-Hong Kong-Macao Greater Bay Area and contribute to the high-quality development of local economy.

CNOOC Limited holds a 60.8% interest in the project, while SK earthon owns 39.2% and acts as the operator.

In addition, the company reports that the Bozhong 28-2 South Oilfield Second Adjustment Project has commenced production.

The project is located in southern Bohai Sea, with an average water depth of around 21 meters. The main production facilities include 1 central platform and 1 water-injection subsea pipeline. 21 development wells are planned to be commissioned, including 13 production wells and 8 water-injection wells. It is expected to achieve a peak production of approx. 7,600 barrels of crude oil per day in 2024.

CNOOC Limited holds 100% interest in the project and acts as the operator.

KeyFacts Energy: CNOOC China country profile