CNOOC Limited Announces Kenli 6-1 Oilfield 5-1, 5-2, 6-1 Block Development Project Commences Production

Rhea-AI Summary

CNOOC Limited has officially commenced production at the Kenli 6-1 Oilfield 5-1, 5-2, 6-1 Block Development Project, located in the Bohai Sea. This project features 1 central platform and 6 unmanned wellhead platforms, with an expected peak production of approximately 36,100 barrels of crude oil per day by 2024. It marks a significant advancement in the company's efforts to develop intelligent, standardized, unmanned offshore oilfields. CNOOC holds a 100% interest in this project, which is the first large-scale shallow lithological oilfield discovered in the area.

Positive

• Commencement of production at Kenli 6-1 Oilfield signifies a strong start for the project.
• Expected peak production of 36,100 barrels of crude oil per day in 2024 is a substantial output.
• First large-scale shallow lithological oilfield discovered in Laibei lower uplift demonstrates significant resource potential.
• Innovative use of standardized unmanned platforms enhances operational efficiency.

Negative

• None.

HONG KONG, Dec. 25, 2022 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883, SSE: 600938) announces today that Kenli 6-1 Oilfield 5-1, 5-2, 6-1 Block Development Project has commenced production.

The project is located in the south of Bohai Sea, with an average water depth of around 19 meters. The main production facilities include 1 central platform and 6 unmanned wellhead platforms. 107 development wells are planned to be commissioned, including 67 production wells, 36 water injection wells and 4 water source wells. The project is expected to achieve its peak production of approximately 36,100 barrels of crude oil per day in 2024.

Kenli 6-1 oilfield 5-1, 5-2, 6-1 block is the main area of Kenli 6-1 oilfield, which is the first large-scale shallow lithological oilfield with a reserve of 100 million tons discovered in Laibei lower uplift in the Bohai Sea. At the project, the Company installs standardized unmanned platforms on a large scale in the Bohai Sea for the first time. The successful startup of the project marks a remarkable step forward for the Company to build intelligentized, standardized and unmanned offshore oilfields.

CNOOC Limited holds 100% interest in Kenli 6-1 Oilfield 5-1, 5-2, 6-1 Block Development Project and acts as the operator.

Notes to Editors:

More information about the Company is available at http://www.cnoocltd.com.

This press release includes forward looking information, including statements regarding the likely future developments in the business of the Company and its subsidiaries, such as expected future events, business prospects or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company as of this date in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate under the circumstances. However, whether actual results and developments will meet the current expectations and predictions of the Company is uncertain. Actual results, performance and financial condition may differ materially from the Company's expectations, including but not limited to those associated with fluctuations in crude oil and natural gas prices, macro-political and economic factors, changes in the tax and fiscal regimes of the host countries in which we operate, the highly competitive nature of the oil and natural gas industry, environmental responsibility and compliance requirements, the Company's price forecast, the exploration and development activities, mergers, acquisitions and divestments activities, HSSE and insurance policies and changes in anti-corruption, anti-fraud, anti-money laundering and corporate governance laws.

Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations.

For further enquiries, please contact:

Ms. Ariel Wang
Media & Public Relations
CNOOC Limited
Tel: +86-10-8452-6832
Fax: +86-10-8452-1441
E-mail: mr@cnooc.com.cn

Mr. Bunny Lee
Porda Havas International Finance Communications Group
Tel: +852 3150 6707 
Fax: +852 3150 6728
E-mail: cnooc.hk@pordahavas.com

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SOURCE CNOOC Limited

FAQ

What is the expected peak production of the Kenli 6-1 Oilfield?

The expected peak production of the Kenli 6-1 Oilfield is approximately 36,100 barrels of crude oil per day by 2024.

Where is the Kenli 6-1 Oilfield located?

The Kenli 6-1 Oilfield is located in the south of the Bohai Sea.

Who holds the interest in the Kenli 6-1 Oilfield project?

CNOOC Limited holds a 100% interest in the Kenli 6-1 Oilfield project.

What type of platforms are used in the Kenli 6-1 Oilfield project?

The project uses 1 central platform and 6 unmanned wellhead platforms.

What is significant about the Kenli 6-1 oilfield discovery?

The Kenli 6-1 oilfield is the first large-scale shallow lithological oilfield with a reserve of 100 million tons discovered in Laibei lower uplift.