CNOOC Launches Joint Development Project in South China Sea

CNOOC Limited has brought three Panyu oilfields online in the South China Sea, marking a significant step in its strategic development. The project integrates the Panyu 11-12, 10-1, and 10-2 oilfields, leveraging state-of-the-art facilities, including a “Typhoon Production Mode” and heavy oil intelligent processing system. The development is expected to peak at 13,600 barrels of oil equivalent per day (boepd) of medium and heavy crude oil in 2025, and improves efficiency and sharing costs by connecting new platforms with existing ones via a trestle…

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