Yahoo Finance·2025-12-22 13:59Core Insights - China National Offshore Oil Corporation (CNOOC) has initiated production at the Xijiang Oilfields 24 Block development project, utilizing existing facilities from the nearby Huixi Oilfields and a newly installed unmanned wellhead platform [1][2] Group 1: Project Overview - The Xijiang Oilfields 24 Block project is located in the shallow waters of the Pearl River Mouth Basin in the northern South China Sea [1] - CNOOC plans to develop ten wells for the project, targeting a peak output of approximately 18,000 barrels of oil equivalent per day (boepd) by 2026 [2] - The oil produced at this site is classified as light crude, and CNOOC is the sole owner and operator of the project [2] Group 2: Technological Innovations - The Xijiang 24-7 platform is noted as China's first unmanned offshore platform designed for high-temperature fluid cooling and export [2] - The platform's temperature control system aims to minimize heat impact on subsea pipelines, thereby supporting stable production [3] Group 3: Additional Developments - CNOOC has recently commenced operations at the Weizhou 11-4 oilfield adjustment and satellite fields project in the Beibu Gulf Basin, which utilizes adjacent infrastructure [3] - The Liuhua Oilfield, recognized as China's largest offshore reef limestone oilfield by proven geological reserves, has also seen full operations in its secondary development project [4] - Since its commissioning in 1996, the Liuhua Oilfield has produced over 20 million tonnes of crude oil and is acknowledged as China's first deep-water oilfield [5]