Wedoany.com Report-Apr. 14, CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) today announces that Wenchang 9-7 Oilfield Development Project has commenced production.
The project is located in the western Pearl River Mouth Basin, with an average water depth of approximately 120 meters. The main production facility is a new drilling and production platform, which leverages the adjacent existing facilities for development. 25 development wells are planned to be commissioned, including 18 production wells and 7 gas injection wells. The project is expected to achieve a plateau production of approximately 12,000 barrels of oil equivalent per day in 2027. The oil property is light crude.
Adhering to the concept of efficient utilization of resources and sustainaCNOOC Limited, listed on the Hong Kong Stock Exchange (SEHK: 00883, 80883) and Shanghai Stock Exchange (SSE: 600938), has announced the start of production at the Wenchang 9-7 Oilfield Development Project. Located in the western Pearl River Mouth Basin, the project operates in waters with an average depth of about 120 meters.
The development features a newly built drilling and production platform, utilizing nearby existing infrastructure for efficiency. The project includes plans for 25 wells, comprising 18 production wells and 7 gas injection wells. It is projected to reach a peak output of approximately 12,000 barrels of oil equivalent per day by 2027, with the oil classified as light crude.
CNOOC Limited emphasized its commitment to sustainable resource use, stating: “Adhering to the concept of efficient utilization of resources and sustainable development, CNOOC Limited has steadily promoted green development of offshore oil and gas resources.” The Wenchang 9-7 Oilfield is the first offshore low-permeability oilfield to employ miscible gas flooding, a technique that addresses challenges in developing such reservoirs and boosts oil recovery rates significantly.
The project also prioritizes environmental efficiency. CNOOC has established an integrated gas network in the Wenchang Oilfields, connecting pipelines and recovering flare gas and waste heat. This system enables the Wenchang 9-7 Oilfield to achieve “zero flaring,” minimizing waste. Additionally, the project incorporates the world’s first 5-megawatt offshore high-temperature flue gas ORC power generation unit, expected to produce up to 40 million kilowatt-hours of electricity annually, reducing carbon dioxide emissions by approximately 33,000 tons per year.
A company representative noted: “Leveraging the gas network, Wenchang 9-7 Oilfield has realized ‘zero flaring’.” The initiative reflects CNOOC’s focus on innovative technologies to enhance efficiency while supporting environmental goals.
CNOOC Limited holds full ownership of the project and serves as its operator. The Wenchang 9-7 Oilfield Development Project demonstrates a balance of resource extraction and sustainability, contributing to the region’s energy needs through advanced engineering and eco-conscious practices. By integrating cutting-edge solutions, the project supports long-term energy development while reducing its environmental footprint.ble development, CNOOC Limited has steadily promoted green development of offshore oil and gas resources. Wenchang 9-7 Oilfield Development Project is the first offshore low permeability oilfield that utilizes miscible gas flooding. The technology solves the problem of low permeability reservoirs development and significantly enhances oil recovery. Meanwhile, the Company pursues efficient recovery and utilization of associated gas and builds a comprehensive gas network in Wenchang Oilfields. The pipelines are interconnected, while flare gas and waste heat is recovered. Leveraging the gas network, Wenchang 9-7 Oilfield has realized "zero flaring". In addition, Wenchang 9-7 Oilfield is equipped with the world's first 5MW offshore high-temperature flue gas ORC power generation unit, which is expected to generate up to 40 million kilowatt-hours of electricity and thus reduce carbon dioxide emissions by approximately 33,000 tons per year.
CNOOC holds 100% interest of the project, and is the operator.
