CNOOC Limited has announced that Penglai 19-3 Oilfield Area 5/10 Development Project has commenced production.
The project is located in south-central Bohai Sea, with an average water depth of approximately 30 m. The main production facilities include 2 wellhead platforms. 130 development wells are planned to be commissioned, including 87 production wells and 43 water-injection wells. It is expected to achieve a peak production of approximately 29 800 bpd in 2027. CNOOC Limited holds 51% interest in this project and acts as the operator, while ConocoPhillips China holds the remaining 49% interest.