CNOOC will begin commercial production from its PY 4-2/5-1 oilfields located offshore in the Eastern South China Sea. Located in Block 15.34 of the Pearl River Mouth Basin in 100 metres of water, the field is expected to have a peak production capacity of 60,000 barrels of oil per day.
According to CNOOC president Zhou Shouwei, "I'm delighted to see the successful start-up of these fields on time. The successful partnership and other development activities continue to add fuels in CNOOC's growth engine."
Despite having a 51% stake in the field, the operator of the field is Devon Energy China Ltd and it shared the remaining 49% with Burlington Resources China Ltd.
Field development includes two platforms and a Floating Production, Storage and Offloading vessel (FPSO).
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