CNOOC Bozhong 25-1 Oilfield Starts Production

CNOOC Co., Ltd. (0883.HK) subordinate to CNOOC Corporation has recently announced that the C/F platform of Bozhong 25-1/25-1 South Oilfield has started production. The oilfield has 17 wells in production and can produce more than 5 000 barrels of crude oil a day. Besides, another 38 wells will also be completed soon.      Bozhong 25-1/25-1 South Oilfield is located in southeastern waters of the Bohai Bay. Longkou is 127km southeast. The water depth is around 20m. The oilfield has been developed in two phases.     The first phase started successful production in October 2004. 79 wells are in production in September, 2005 and the daily crude oil output is around 20 000 barrels. The highest design capacity of the second phase is 15 000 barrels a day. Platform A is expected to start production in 2006.     According to Zhou Shouwei, Deputy General Manager of CNOOC Corporation and President of CNOOC Co., Ltd., the completion of the project on schedule will further consolidate the core position of the Bohai Bay in CNOOC assets. CNOOC holds 83.8% equity in Bozhong 25-1/25-1 South Oilfield and also acts as operator.