On May 18th, CNOOC Limited (the Company) announced that it had successfully brought on stream Wei Zhou (WZ) 11-1, an independent oilfield in the Western South China Sea. Currently the new field has one well producing over 2,100 barrels of oil per day.
WZ11-1 is located in the southwest of Weizhou Island in the Beibu Gulf, South China Sea. The field is adjacent to the producing fields WZ11-4 and WZ12-1, with water depth ranging from 30 to 40 meters.
There's only one producing platform in WZ11-1 oil field. Its development and production mainly rely on the production facilities and sub-sea pipelines of the adjacent WZ 12-1.
WZ 11-1 is expected to see 7,200 barrels of oil per day at its peak production.
Mr. Liu Jian, Executive Vice President of the Company said, "ÂMarginal fields such as WZ11-1 can be commercialized by sharing facilities with surrounding oil fields. Previously the Company already successfully developed WZ6-1, another marginal field adjacent to WZ11-1, in the same way."Â
CNOOC Ltd. holds 100% interests of WZ11-1. -http://www.cnooc.com.cn
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