CNOOC Weizhou 11-4 oilfield adjustment and surrounding area development project put into production

CNOOC (00883.HK) announced that its Weizhou 11-4 oil field adjustment and surrounding area development project located in the northern Gulf of Tonkin has officially commenced production. The project has an average water depth of approximately 43 meters and primarily relies on existing facilities in the Weizhou oil field group, with the construction of one unmanned wellhead platform and one central processing platform, connected to existing platform facilities via a bridge.

The project adopts a collaborative development model of "three offshore processing centers + one land terminal," with plans to develop 35 production wells, including 28 production wells and 7 water injection wells. It is expected to achieve a peak production of approximately 16,900 barrels of oil equivalent per day by next year, with the oil quality being light crude oil