CNPC, CNOOC Succeed in Oil Extraction at World's Largest Integrated Oilfield for the First Time

China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) succeeded in extracting oil at the Buzios oilfield project in Brazil in early October this year.

It was the first time the two Chinese enterprises completed a deepsea oil extraction at the project. A total of 140,000 metric tons of oil was extracted.

The Buzios oilfield project went into operation in April 2018. It is the largest integrated oilfield in Brazil and the largest deepsea oilfield in the world.

The consortium of CNPC, CNOOC and Petrobras won a bid for the project in November 2019 and CNPC's branch in Brazil signed a production-sharing contract in March 2020.

Participation in the project has laid a solid foundation for CNPC's high-quality construction of its oil development and business in Latin America.

(Executive editor: Niu Yilin)