China National Offshore Oil Corporation (CNOOC) has announced that Liuhua 16-2 oilfield/ 20-2 oilfield joint development project has commenced production, according to a press release.
The Liuhua 16-2 oilfield / 20-2 oilfield joint development project, located in the Eastern South China Sea, will drill 26 development wells. Recently, one 150,000 DWT FPSO and three underwater production systems were newly installed, permitting the commencement of drilling.
The South China Sea has proved to have huge exploration potential with the Linhua Oilfields’ oil discoveries dating back to 2012.
CNOOC Limited holds a 100% interest in the Liuhua 16-2 oilfield/ 20-2 oilfield joint development project.