Huan Qiu Wang·2025-12-23 01:16Core Insights - China National Offshore Oil Corporation (CNOOC) has announced the commencement of production at the Xijiang Oilfield Block 24 development project, which is expected to reach a peak production of approximately 18,000 barrels of oil equivalent per day by 2026 [1] - The Xijiang 24-7 platform is noted as China's first unmanned platform for high-temperature cooling and transportation of oil and gas-water mixtures, featuring an innovative temperature control system to mitigate high temperatures' impact on subsea pipelines [1] - The Bohai Oilfield, as China's largest offshore oil production base, is projected to achieve a cumulative production milestone of over 400 million tons of oil and gas by 2025, setting a new historical record [1] Company and Industry Summary - The Bohai Oilfield, established in 1965, is recognized as the cradle of China's offshore oil industry and currently operates over 60 oil and gas fields along with more than 200 production facilities [1] - Over the past five years, the average annual growth rate of crude oil and natural gas production from the Bohai Oilfield has been 5%, contributing approximately 40% to the domestic crude oil production increase [1] - Experts from CNOOC's Economic and Technical Research Institute emphasize that enhancing exploration and development efforts is crucial, with significant investment growth evidently increasing development intensity [2] - The successful development of deep-sea and non-traditional resources, along with technological and innovation advancements, are identified as key factors supporting China's strategy to strengthen domestic energy production [2]