Chinese Giant Augments Hydrocarbon Production as Oilfield Project Goes Live

China National Offshore Oil Corporation (CNOOC), a state-owned oil and gas company, has commenced production at the Weizhou 5-3 oilfield development project in the South China Sea. Located in the Beibu Gulf Basin with an average water depth of about 35 meters, the project marks a significant step in expanding offshore energy production.

Haiji-2 (for illustration purposes)

CNOOC holds a 51% stake in the Weizhou 5-3 project, with Smart Oil Investment owning the remaining 49%. The oilfield is projected to reach a peak output of approximately 10,000 barrels of oil equivalent per day by 2026. The development utilizes medium crude oil and relies on a self-installing wellhead platform, which integrates with nearby existing facilities to optimize operations.

The project includes plans for ten development wells, comprising seven production wells, two water injection wells, and one gas injection well. These wells are designed to support efficient extraction and sustained production over the project’s lifecycle.

This milestone follows CNOOC’s recent achievements, including the start of production at another oilfield in the western Pearl River Mouth Basin and the discovery of additional oil reserves in the eastern South China Sea. The Weizhou 5-3 project underscores CNOOC’s ongoing efforts to enhance offshore oil and gas output in the region.