CNOOC discoveries counter falling production
CNOOC’s production during 1Q was 119.1 MMboe, down 4.2% on the corresponding quarter in 2016.
HONG KONG – CNOOC’s production during 1Q was 119.1 MMboe, down 4.2% on the corresponding quarter in 2016.
This was due mainly to natural decline of the company’s producing oil and gas fields.
However, the company has drilled four new discoveries and five productive appraisal wellsoffshore China.
Among these are the newly discovered Bozhong 29-6 and Bozhong 29-6S in the mature area of Bohai, while the appraised Penglai 7-6 proved to be a mid-size oil and gas structure.
Overseas the company participated in one new find and one successful appraisal well.
Of projects planned to start production this year, the Penglai 19-9 oil field comprehensive adjustment project and the Enping 23-1 oil fields have already come onstream, with others progressing as planned.