CNOOC Ltd. Announces Startup of Oil Field Offshore South China Sea
Posted on: Saturday, 11 February 2006, 09:00 CST
CNOOC ltd. announces startup of oil field offshore South China Sea
BEIJING, Feb. 10 (Xinhua) -- China National Offshore Oil Company Limited (CNOOC Ltd.) announced Friday that an oil field offshore South China Sea has come on stream successfully with a daily production of 1,500 barrels of oil.
The Hui Zhou (HZ) 19-1 field, of one well, is located in northern part of block 16/19, about 120 kilometers southeast of Hong Kong in Eastern South China Sea.
The peak gross production capacity of the field is designed at 2,000 barrels of oil per day.
HZ19-1, together with HZ 19-3/2 which began production in 2004, is called HZ19-3/2/1 fields. The development facilities of the fields consist of two platforms, eight wells and a 41-kilometer sub- sea pipeline. The fields are producing at a daily rate of 12,000 barrels of oil approximately.
The fields are operated by CACT Operators Group consisting of CNOOC Ltd, Eni China BV and ChevronTexaco China Energy Company. CNOOC Ltd. holds a 51 percent interest of the fields.
CNOOC Limited, incorporated in Hong Kong, is a 70.64 percent held subsidiary of China National Offshore Oil Corporation, China's largest offshore oil producer.
Source: Xinhua News Agency - CEIS
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