China’s Liuhua Oilfield hits full secondary production

Core Insights - CNOOC has commenced full operations of the secondary development project at the Liuhua Oilfield, which is the largest offshore reef limestone oilfield in China by proven geological reserves [1][2] - The Liuhua Oilfield has produced over 20 million tonnes of crude oil since its commissioning in 1996, with approximately 140 million tonnes of reserves remaining [2] - The current phase of the project includes the Liuhua 11-1 and Liuhua 4-1 oilfields, located at an average water depth of around 305 meters, and involves the development of 32 production wells [2] Production and Development - The first group of wells at the Liuhua Oilfield began operating in September last year, achieving a daily crude oil output of 3,900 tonnes [3] - CNOOC has also initiated production at the Weizhou 11-4 oilfield adjustment and satellite fields project in the Beibu Gulf Basin, which is located at an average depth of 43 meters [3] - The Weizhou 11-4 project includes a new unmanned wellhead platform and a central processing platform, with plans to drill 35 development wells, including 28 production wells and 7 water injection wells [4] Future Expectations - CNOOC expects the Weizhou 11-4 project to reach a peak output of approximately 16,900 barrels of oil equivalent per day by 2026, focusing on the production of light crude oil [4]