CNOOC Ltd. introduced Friday it has put onstream Bohai Bay’s Bozhong 26-6, which it calls the globe’s largest buried metamorphic hill oilfield.
Producing mild crude, the event is anticipated to achieve 22,300 barrels of oil equal a day in peak manufacturing this yr. Bozhong 26-6, which has a median water depth of about 20 meters (65.62 ft), holds over 200 million cubic meters (7.06 billion cubic ft) of confirmed oil and fuel in place, based on the state-backed firm.
“Benefiting from the appliance of standardized engineering, it took solely three years from the invention of the oilfield to manufacturing, realizing the speedy conversion of reserves to manufacturing”, CNOOC Ltd., majority-owned by China Nationwide Offshore Oil Corp. (CNOOC), mentioned in a press launch.
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“As one of many demonstration CCUS [carbon capture, utilization and storage] initiatives of the Firm in Bohai, it adopts superior expertise to seize and separate the related carbon dioxide from crude oil extraction and reinject again into the formation to drive the oil, thereby growing manufacturing whereas decreasing emissions”.
CNOOC Ltd., the sector’s sole developer, expects the CCUS part to bury about 1.5 million metric tons of carbon dioxide all through Bozhong 26-6’s life cycle.
The corporate, which claims to be China’s prime offshore producer of petroleum and pure fuel, eyes 33 improvement wells at Bozhong 26-6. Twenty-two of those are for manufacturing, 10 for fuel injection and one for water entry.
The manufacturing amenities embody a brand new central processing platform and an unmanned wellhead platform.
“The profitable graduation of manufacturing of Bozhong 26-6 Oilfield Improvement Mission (Section I) marks a brand new stage for the Firm within the improvement of offshore deep play difficult buried hill oil and fuel reservoirs in addition to the development of the Bohai CCUS base”, commented CNOOC Ltd. president Yan Hongtao.
“It bolsters the Firm’s power provide capability and low-carbon improvement within the Beijing-Tianjin-Hebei and Bohai Rim areas”.
CNOOC Ltd. has now introduced three hydrocarbon manufacturing start-ups this yr, the opposite two being the Panyu 11-12/10-1/10-2 Oilfield Adjustment Joint Improvement Mission and the Dongfang 29-1 fuel discipline, each within the South China Sea.
In 2025 it additionally expects to start out manufacturing at the Kenli 10-2 Oilfields Improvement Mission Section I in China, the Buzios7 Mission in Brazil and the Yellowtail Mission in Guyana, based on its 2025 plan revealed January 22.
The plan declared a aim to lift web manufacturing to over two million barrels of oil equal per day (MMboed) in 2025.
Output in 2024 is anticipated to have totaled 720 MMboe, marking a sixth consecutive yr of document highs, CNOOC Ltd. mentioned then. It put the whole quantity aim for 2025 between 760 MMboe and 780 MMboe, of which 69 p.c is to come back from China.
For 2026, it can goal for 780-800 MMboe. For 2027, the goal is 810-830 MMboe.
“The corporate endeavors to seek for giant and medium-sized oil and fuel fields, to strengthen the useful resource base for reserves and manufacturing progress”, the plan said. “In 2025, the capital expenditure for exploration in China will primarily be directed to maintain crude oil reserves whereas develop [sic] pure fuel reserves, led by the development of the three trillion-cubic-meters-level fuel areas [in the South China Sea].
“For abroad exploration, the Firm will proceed to deal with the Atlantic Ocean rim and the ‘Belt and Highway’ nations. Drilling will proceed in Guyana and rolling exploration is deliberate in Nigeria. Seismic survey might be carried out in Mozambique and Iraq. On the similar time, the corporate will proceed to hunt for high-quality acreage, particularly working belongings.
“The corporate will promote exploration and improvement integration, in addition to engineering standardization, to speed up the conversion of reserves into manufacturing”.
CNOOC Ltd. additionally mentioned it could proceed pursuing new oil and fuel expertise. “Counting on the ‘Hello-Power’ synthetic intelligence mannequin, the Firm will facilitate the in-depth integration of digital intelligence expertise with the oil and fuel enterprise to advertise lean administration”, it mentioned within the plan.
“The corporate will drive the built-in improvement of hydrocarbon sector and new power sectors”.
To contact the writer, electronic mail jov.onsat@rigzone.com
