CNOOC Limited Starts oil Production in Two Projects

BEIJING — CNOOC Limited, China's national oil company, has started oil production in two projects - Luda 5-2 oilfield north phase I project and Kenli 6-1 oilfield 4-1 block development project.

Luda 5-2 oilfield north phase I project is located in Liaodong Bay of Bohai Sea, with an average water depth of 32 meters. The project is expected to reach its peak production of about 8,200 barrels of crude oil per day in 2024.

Kenli 6-1 oilfield 4-1 block development project is located in the south of Bohai Sea, with an average water depth of 17 meters, and this oilfield is expected to reach its peak production of about 4,000 barrels of crude oil per day in 2022.

CNOOC Limited holds 100 percent interest in Luda 5-2 oilfield north and Kenli 6-1 oilfield 4-1 block and acts as the operator.

Its parent company China National Offshore Oil Corporation, headquartered in Beijing, is the country's largest producer of offshore crude oil and natural gas.