CNOOC Ltd has announced that the Panyu 11-5 oilfield has commenced production.
The Panyu 11-5 oilfield is located in the Pearl River Mouth Basin of the South China Sea with an average water depth of approximately 110 m. In addition to fully using the existing facilities of Panyu 5-1 oilfield, the Panyu 11-5 oilfield also drilled 3 horizontal wells. Currently 1 well is on production, producing a total of approximately 3270 bpd of crude oil. The oilfield is expected to reach its ODP designed peak production of approximately 3900 bpd of crude oil in 2016.
The Panyu 11-5 is an independent oilfield in which the Company holds 100% interest and acts as the operator.
Edited from press release by Angharad Lock