China’s state-run offshore producer China National Offshore Oil Corp. (CNOOC)’s three new projects will add the crude output of the country’s offshore crude output.
The projects at the Jinzhou, Liuhua, and Nanbao fields in the Bohai Sea and the South China Sea with a total output of 91,000 bpd of crude when they hit peak production in 2021-2023. The biggest field is the Liuhua 16-2 field in the eastern South China Sea, in which production would hit 73,000 bpd at its peak in 2022.
CNOOC is raising its domestic oil and gas production to comply with Beijing’s call for upstream companies to increase output. Its total production capacity at the fields is around 145,000 bpd with all the new domestic crude projects planned to finish in 2020 are already on stream.
In the January-June period, the firm’s total output climbed by 6.1% to 1.42 million boepd. Domestic liquids output rose by 8% to 766,000 bpd.
