CNOOC starts production of Lufeng 12-3 oilfield development project
China National Offshore Oil Corporation announced today that the Lufeng 12-3 oil field development project has been put into production.
The project is located in the eastern waters of the South China Sea, with an average water depth of about 240 meters. The main production facilities include a wellhead platform and a newly built 100,000-ton intelligent FPSO. It plans to put 13 development wells into production. Peak production of approximately 29,500 barrels of crude oil per day is expected to be achieved in 2024.
Lufeng 12-3 Oilfield is the largest foreign-cooperative oilfield developed in the South China Sea in the past decade. Once put into production, it will provide a stable energy supply to the Guangdong-Hong Kong-Macao Greater Bay Area and help high-quality development of the local economy.
CNOOC holds a 60.8% interest in the project, and South Korea’s SK Earthon holds a 39.2% interest and serves as the operator.
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