Over 10 million cubic meters of oil and gas production in the eastern part of the South China Sea for 10 consecutive years
The value of the South China Sea, known as the second Persian Gulf, is becoming more prominent in the Chinese energy landscape.
The reporter learned yesterday from CNOOC, China's top offshore oil trader, that since 1996, the waters in the eastern part of the South China Sea have exceeded 10 million cubic meters for 10 consecutive years. The first self-developed oil field in the area, Lufeng 13-2, has also recently been launched. Successfully put into production.
The eastern part of the South China Sea has been the fourth largest oil field in China for many years. CNOOC Limited said yesterday that due to its extraordinary oil and gas production in recent years, the eastern part of the South China Sea has effectively relieved the tight oil situation in the southern coastal areas of China, and will lay a solid foundation for CNOOC’s oil and gas production to reach 55 million cubic meters by 2010.
China has begun to shift its sights on energy acquisition more strategically to offshore oil and gas, which is after onshore oilfields have been exploited for several years. Nanhai Petroleum, one of the representatives of offshore oil and gas for the “virgin land†to be opened, has become increasingly fascinating in recent years.
According to the public disclosure by the Ministry of Land and Resources, there are more than 200 oil and gas structures and 180 oil and gas fields in the South China Sea. According to preliminary estimates, the total oil geological reserves in the entire South China Sea range from 23 to 30 billion tons, accounting for about one-third of China's total resources. Therefore, it has the name of 'second Persian Gulf'.
At present, the South China Sea has been listed as one of the top ten oil and gas strategic constituencies in the country, and the pace of development in the South China Sea has accelerated. It is worth mentioning that the wisdom of the Chinese people is being applied to the development of this controversial sea area, making it a "sea of ​​controversy" into a "sea of ​​cooperation." In March of this year, CNOOC, Philippine National Oil Company and Vietnam Oil and Natural Gas Company signed a three-year "Three-party Joint Marine Seismic Work Agreement in the South China Sea Area." The three companies will study and evaluate the status of oil resources in a 143,000 square kilometer agreement area.
Another technical development is reflected in the commissioning of the new oilfield. Lufeng 13-2, which was put into operation recently, is the first self-developed oil field of CNOOC in the eastern part of the South China Sea. CNOOC owns 100% of the Lufeng 13-2 oilfield and is also an operator. According to CNOOC, there are currently a total of three horizontal wells in the oil field, producing about 18,000 barrels of crude oil per day. The field's test production capacity can reach as high as 30,000 barrels/day. This means a major leap forward in China's offshore oil exploration and development technology. Prior to this, limited to technology, the eastern part of the South China Sea has always been the "marriage" of Chinese and foreign products - most of them take the form of Sino-foreign cooperative ventures.
The value of the South China Sea, known as the second Persian Gulf, is becoming more prominent in the Chinese energy landscape.
The reporter learned yesterday from CNOOC, China's top offshore oil trader, that since 1996, the waters in the eastern part of the South China Sea have exceeded 10 million cubic meters for 10 consecutive years. The first self-developed oil field in the area, Lufeng 13-2, has also recently been launched. Successfully put into production.
The eastern part of the South China Sea has been the fourth largest oil field in China for many years. CNOOC Limited said yesterday that due to its extraordinary oil and gas production in recent years, the eastern part of the South China Sea has effectively relieved the tight oil situation in the southern coastal areas of China, and will lay a solid foundation for CNOOC’s oil and gas production to reach 55 million cubic meters by 2010.
China has begun to shift its sights on energy acquisition more strategically to offshore oil and gas, which is after onshore oilfields have been exploited for several years. Nanhai Petroleum, one of the representatives of offshore oil and gas for the “virgin land†to be opened, has become increasingly fascinating in recent years.
According to the public disclosure by the Ministry of Land and Resources, there are more than 200 oil and gas structures and 180 oil and gas fields in the South China Sea. According to preliminary estimates, the total oil geological reserves in the entire South China Sea range from 23 to 30 billion tons, accounting for about one-third of China's total resources. Therefore, it has the name of 'second Persian Gulf'.
At present, the South China Sea has been listed as one of the top ten oil and gas strategic constituencies in the country, and the pace of development in the South China Sea has accelerated. It is worth mentioning that the wisdom of the Chinese people is being applied to the development of this controversial sea area, making it a "sea of ​​controversy" into a "sea of ​​cooperation." In March of this year, CNOOC, Philippine National Oil Company and Vietnam Oil and Natural Gas Company signed a three-year "Three-party Joint Marine Seismic Work Agreement in the South China Sea Area." The three companies will study and evaluate the status of oil resources in a 143,000 square kilometer agreement area.
Another technical development is reflected in the commissioning of the new oilfield. Lufeng 13-2, which was put into operation recently, is the first self-developed oil field of CNOOC in the eastern part of the South China Sea. CNOOC owns 100% of the Lufeng 13-2 oilfield and is also an operator. According to CNOOC, there are currently a total of three horizontal wells in the oil field, producing about 18,000 barrels of crude oil per day. The field's test production capacity can reach as high as 30,000 barrels/day. This means a major leap forward in China's offshore oil exploration and development technology. Prior to this, limited to technology, the eastern part of the South China Sea has always been the "marriage" of Chinese and foreign products - most of them take the form of Sino-foreign cooperative ventures.