In a statement CNOOC Ltd said, “One of [our] fields in Bohai Bay [has] started production and [is] expected to pump 15,000-20,000 barrels of oil per day in the next few months.
“The oilfield, called Caofeidian 11-1/11-2, [will] produce as much as 40,000-45,000 barrels per day by the middle of next year,” added the state-run firm.
According to JV partner Kerr-McGee, the ahead of schedule first production was all thanks to all parties involved.
“First production from Bohai Bay was achieved ahead of schedule thanks to outstanding efforts by our employees and contractors,” said Dave Hager, Kerr- McGee Senior Vice President Oil and Gas Exploration and Development.
“With five more discoveries to date, additional identified prospects and interests in approximately 1.7 million gross undeveloped acres, we plan to leverage our expertise to build on our success in Bohai Bay,” he added.
The majority stakeholder in the Caofeidian field, with 51% is CNOOC Ltd. Operator Kerr-McGee has a 40% stake with Ultra Petroleum unit Sino-American Energy Corp holding the balance.
