China National Offshore Oil Corp. (CNOOC) reported that the Penglai 19-9 comprehensive adjustment project in the Bohai Sea has started oil production. Two wells are currently producing approximately 750 B/D, and peak oil output of 13,000 B/D from 57 planned wells is expected in 2019. The company is the operator with a 51% working interest. ConocoPhillips holds the remaining project interest.
Don't miss out on the latest technology delivered to your email weekly. Sign up for the JPT newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.