CNOOC Limited Announces Liuhua 29-1 Gas Field Commences Production
Monday 2 November 2020
CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) today announced that Liuhua 29-1 gas field has commenced production.
The Liuhua 29-1 gas field is located in the eastern South China Sea, 86 kilometers northeast of Liwan 3-1 gas field, with water depth of about 640 to 785 meters. A new subsea wellhead has been built, with 7 development wells planned in total. The gas field will fully utilize the existing production facilities of Liuhua 34-2 gas field and Liwan 3-1 gas field. It is expected to reach a peak production of approximately 62 million cubic feet of natural gas per day in 2022.
CNOOC Limited has a 25% working interest in Liuhua 29-1 gas field and acts as the operator in shallow water, while Husky Oil China Limited holds the remaining 75% working interest and acts as the operator in deep water.